Magazine article Editor & Publisher

As Revenue and Expenses Fell, So Did CEOs' Pay. Mostly

Magazine article Editor & Publisher

As Revenue and Expenses Fell, So Did CEOs' Pay. Mostly

Article excerpt

NOT THAT IT'S ANY COMFORT TO THE THOUSANDS of newspaper employees who found themselves out of work in 2009 as publishers slashed costs to match falling revenue, but at least some of their pain was shared in the executive suites. This selected list of publicly traded newspaper companies shows every CEO had his or her base salary cut, and only two chief executives drew higher total compensation than in 2008. (Data from 10-K annual reports or proxy statements filed with the Securities and Exchange Commission. A.H. Belo had not filed its 10-K by press time. Total compensation can include stock awards or options, deferred compensation and other compensation.)

--Mark Fitzgerald and Jennifer Saba

                                                              Total
          Executive            Year   Salary      Bonus       Comp.*
                                                              (1)
GANNETT
          Craig Dubow          2009   942,308     1,450,000   4,698,692
          Chairman, CEO        2008   1,166,667   875,000     3,142,369

LEE
          Mary Junck           2009   833,654     0           1,323,098
          Chairman, CEO        2008   850,000     0           2,543,453

JOURNAL COMMUNICATIONS
          Steve J. Smith       2009   795,692     0           1,445,492
          Chairman, CEO        2008   798,077     0           1,709,862

MEDIA GENERAL
  (3)     Marshall N. Morton   2009   871,635     0           1,350,249
          president, CEO       2008   925,000     1,715,350   3,675,411

THE McCLATCHY CO.
          Gary B. Pruitt       2009   976,250     0           3,753,229
          Chairman, CEO        2008   1,100,000   0           2,337,169

THE NEW YORK TIMES CO.
          Janet L. Robinson    2009   962,500     0           6,262,755
          CEO                  2008   1,000,000   35,000      4,753,314

THE E.W. SCRIPPS CO.
          Richard A. Boehne    2009   659,079     0           2,164,983
          President, CEO       2008   762,500     0           3,127,633

THE WASHINGTON POST CO.
  (4)     Donald E. Graham     2009   400,000     0           472,997
          Chairman, CEO        2008   400,000     400,000     811,960

          Executive            % Change   Total Revenue   % Change

GANNETT
          Craig Dubow          49.5%      5,612,993,000   -17.1%
          Chairman, CEO                   6,767,650,000

LEE
          Mary Junck           -48.0%     842,030,000     -18.2%
          Chairman, CEO                   1,028,868,000

JOURNAL COMMUNICATIONS
          Steve J. … 
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