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Gary Ginsberg, executive VP-corporate marketing & communications at Time Warner, took a 47.8 percent cut in total compensation to $3.2M last year, according to today's Securities and Exchange Commission filing made by the media giant.
Stock awards of $3.2M bolstered Ginsberg's 2016 pay package to $6.9M.
Ginsberg, who served in Bill Clinton's administration as White House counsel, joined TW in 2010 after eleven years at Rupert Murdoch's News Corp., where he served as executive VP marketing & corporate affairs. He served as Murdoch's liasion to the Democratic party.
Meanhile, Jeff Bewkes, TWC's CEO, received a 50 percent boost in total comp to $49M, a package that includes $32M in stock awards.
AT&T has proposed an $85B takeover of TWC, a transaction opposed by Donald Trump and the Justice Dept.
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
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