Time Warner Cable CEO Glenn Britt's 2011 Compensation Drops Slightly to $16.4 Million

Glenn Britt
AP Photo/Seth Wenig

"It has become our primary product. People are telling us that if they were down to their last dollar, they would drop broadband last."

UPDATED: The boss of the second-largest U.S. cable operator had made $17.4 million in 2010.

NEW YORK - Time Warner Cable chairman and CEO Glenn Britt's 2011 compensation amounted to $16.4 million, down 5.7 percent from the prior year.

The total pay package, details of which were disclosed in a regulatory filing Tuesday afternoon, compares with the $17.4 million he made in 2010. The filing showed that his salary was unchanged at $1.25 milllion, the value of his stock awards rose slightly, but options awards and non-equity incentive bonus declined.

Among $439,456 in "other" compensation, Britt received transportation-related benefits of $346,395, mostly related to his personal use of company-owned aircraft ($339,779) and his personal use of a company-provided car and driver, the filing showed.

Satellite TV giant DirecTV recently said its CEO Mike White's pay package reached $5.9 million. In January, Viacom said that CEO Philippe Dauman's compensation amounted to $43.1 million in the latest fiscal year. Both saw compensation declines due to special year-ago awards.

But Disney CEO Robert Iger's pay rose 12 percent to $31.4 million, and Discovery Communications CEO David Zaslav's compensation rose 23 percent to $52.4 million.

Email: Georg.Szalai@thr.com
Twitter: @georgszalai