Time Warner chairman and CEO Jeff Bewkes‘ compensation rose to $48.99 million in 2017, compared with $32.6 million in 2016 and $31.5 million in 2015, according to a regulatory filing unveiled on Friday.
Bewkes made $32.9 million in 2014 after $32.5 million in 2013 and $25.9 million in 2012. His 2017 pay package included a bump in stock awards to $32 million, from a year-earlier $7.75 million, on a base salary that remained constant at $2 million.
And Bewkes‘ 2017 package included restricted stock units received as part of a retention program. The majority of his compensation has been based on the company’s financial and stock performance.
In 2017, Time Warner’s stock fell 5 percent. The company’s earnings per share rose 34 percent, while its adjusted earnings per share grew 27 percent.
Late in 2016, the entertainment giant agreed to be acquired by telecom powerhouse AT&T for $85.4 billion. The Department of Justice sued to stop the deal.
Bewkes has served as CEO of Time Warner since 2008 and as chairman since 2009. He has been with the company for more than 20 years.
Among other top Time Warner execs, executive vp and CFO Howard Averill saw his 2017 overall pay fall to $6.65 million, compared to $20.3 million in the year-earlier period. And general counsel Paul Cappuccio earned $6.2 million last year, down from $16.3 million in 2016.