Viacom's Sumner Redstone & Philippe Dauman see compensation cuts in 2015

MUMBAI: Viacom Inc executive chairman Sumner Redstone received an almost 85 per cent cut in his pay for the 2015 fiscal in the light of his ailing health.

Redstone, who is 92 years old, was paid $2 million in salary in Viacom's 2015 fiscal year, according to a company filing Wednesday with the Securities and Exchange Commission. In comparison, he was paid $13 million in salary, bonuses and other perks in 2014.

As was reported earlier by, a shareholder has filed a lawsuit in which it was alleged that Redstone was incapable of continuing to run the company.

On the other hand, Viacom CEO Philippe Dauman also saw a cut in his pay. In 2015, he received compensation of approximately $36.9 million, which was 17 per cent lower from his 2014 compensation of $44.3 million. On the other hand, Dauman drew a $4 million salary last year. His bonus dropped 30 per cent to $14 million as compared to $20 million in 2014.

In a statement to explain the drop in compensation, Viacom said, “Mr. Redstone’s salary was unchanged in fiscal 2015. He became ineligible to receive a bonus beginning in fiscal 2015, and has not been eligible to receive an annual equity award since fiscal 2012.”

However, the company did not give any specific reasons for the cut in pay and compensation.

While Redstone is Viacom’s controlling shareholder, he holds about 80 per cent voting shares of Viacom and CBS Corp through his family investment vehicle - National Amusements.

According to the lawsuit filed in Delaware by Viacom shareholder E.F. Greenberg, Redstone received $169 million in executive compensation for his role at Viacom from 2012 to 2014. In addition, he also receives compensation for his role as CBS executive chairman.

Latest Reads
Sony takes audiences to the crossroads with new show

MUMBAI: After being a leader in introducing mythological shows, Sony Entertainment Television (SET) is taking a different route. The channel’s latest offering is Zindagi ke Crossroads, a 39-episodic interactive show where the studio audiences will put forward their opinions on the challenges faced...

Television TV Channels GECs
Cosmos-Maya’s next international co-production is a spin-off series of the much talked about 3D Animation feature film Leo da Vinci: Mission Mona Lisa

is another high quality 3D animation international co-production - a spin-off series based on the recently released film Leo da Vinci: Mission Mona Lisa.

Television TV Channels Kids
EPIC TV & Penguin Present The Third Book Of The Devlok With Devdutt Pattanaik Series

Where did the name Radha come from? When did Christianity first come to India? What is the connection between sanskar and dharma? After the enormous success of the first two books in the ‘Devlok with Devdutt Pattanaik’ series, India’s favourite mythologist, Devdutt Pattanaik, is back with a third...

Television TV Channels Factual & Documentary
Banijay Asia and Salman Khan TV collaborates to create content for digital and tv

World’s largest independent content creation group, Banijay Group recently entered Indian & South East Asian market under the guidance of Deepak Dhar with an aim to produce content across genres. Banijay Asia &SK TV, which was launched few years back, come together to create novel and...

Television TV Channels GECs
DSport reaches 110 mn households in a year

DSport, the sports TV channel by Discovery Communications, has achieved the milestone of reaching 110 million households in India. The channel was launched on 6 February 2017 and achieved the milestone within one year of operations in India and has expanded its distribution across all DTH and...

Television TV Channels Sports
Star Suvarna to telecast 'Kannadada Kotyadhipati 2018' the Kannada version of 'Who wants to be a Millionaire' as part of its revamp

May 21, 2018: The third season of Kannadada Kotyadhipati, the Kannada version of ‘Who wants to be a Millionaire’, which sets the stage for a revamps of Star Suvarna, the Kannada GEC channel of Star Network will premiere in June’18. Since January 2018, the channel has gained viewership share in...

Television TV Channels Regional
Republic Network partners with CAF India to nurture the Culture of Giving amongst Indians as part of its first year celebration.

Republic TV, India’s number 1 English news channel for non-stop 53 weeks is celebrating its milestone first year anniversary in a unique and special way. Republic TV has partnered with Charities Aid Foundation (CAF) India, a not for profit organisation to fuel and accelerate the spirit of giving...

Television TV Channels News Broadcasting
Star spending up to Rs 2 cr on production per IPL match

MUMBAI: After having bought rights for almost all important sporting properties in India, Star India had the massive task to ensure that it sets a new benchmark for cricket. In February, it won the audio-visual production rights for IPL 2018, making it the first time that a broadcaster is...

Television TV Channels Sports
Watch Rani Mukerji’s ‘Dadasaheb Phalke Excellence Award’ winning performance in ‘Hichki’ only on Sony MAX

After garnering success at the box office and a heart-warming response from the audience, the Rani Mukerji starrer ‘Hichki’ is all set for its Worldwide Television Premiere only on Sony Pictures Networks’ number 1 Hindi movie channel, Sony MAX on Saturday, 26th March at 9pm. Directed by Siddharth...

Television TV Channels Movie Channels

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories