Tribune Media CEO Peter Liguori's Pay Rises to $23 Million in 2014
The company has continued to focus on original content and other initiatives.
Tribune Media CEO Peter Liguori made $23 million in total compensation in 2014, according to a regulatory filing.
In 2013, he had made $8.8 million. Before the split of Tribune Media and the newspaper-focused Tribune Publishing, the combined company then known as Tribune Co. named Liguori CEO early in 2013.
His 2014 compensation included a salary of nearly $1.6 million, up from nearly $1.5 million in 2013. He got no regular bonus in 2014 after getting $1.75 million in 2013. But his stock awards rose from $4.2 million to $8.4 million, and his option awards rose from $1.2 million to $11.55 million.
Liguori also received non-equity incentive compensation worth $1.5 million. His "other compensation" of $10,400 compared with $141,822 in 2013.
"Mr. Liguori presided over our business transformation in 2014," the filing said in discussing his compensation. "Through Mr. Liguori's leadership, we achieved strong performance results, even while navigating the complexities of acquisitions, spinoffs and the company's registration on the New York Stock Exchange."
It added that Liguori's "contributions in 2014 included strategic input and oversight of all activities associated with" the integration of such acquisitions as those of local TV and Gracenote, the spinoff of the company's publishing operations into an independent publicly traded company and the launch of two original series on WGN America, Salem and Manhattan. Plus, "in a series of transactions, [he] monetized the company's interest in Classified Ventures for total net proceeds after taxes of approximately $525 million," it said.
The filing explained that in early 2015, the board of Tribune Media's compensation committee agreed to a special restricted stock unit grant to Liguori and other top executives "to recognize their significant contributions to the publishing spinoff and the registration of the company's Class A common stock on the NYSE."