Magazine article Editor & Publisher

Happy (Pay)days Are Here Again?

Magazine article Editor & Publisher

Happy (Pay)days Are Here Again?

Article excerpt

Execs can expect their boats to rise with the industry tide

Many top executives at newspaper companies, in line with the industry's abysmal revenue performance, did without bonuses and raises in 2001 -- and some even took pay cuts.

But now bonuses are back. "Pay tends to follow performance, so when things get better, the pay tends to turn up," said Allen Jackson, a Towers Perrin compensation consultant based in Valhalla, N.Y. Thus Belo lifted a yearlong wage freeze in October and will hand out some bonuses for last year, a year that "exceeded our expectations," Chairman, CEO, and President Robert W. Decherd has said.

Even at Dow Jones & Co. Inc., where The Wall Street Journal is still suffering an advertising-revenue decline, some executives will pocket small bonuses, although Chairman and CEO Peter R. Kann wrote in a staff memo that he won't be one of them. Dow Jones also froze salaries for nonunion employees for this year, the second year without increases for the highest-paid executives, and the company expects to negotiate a similar sacrifice by union employees this year. …

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