Viacom has re-upped CEO Philippe Dauman through 2018, giving a mogul who was already one of the highest paid media executives yet another raise.
Specifics on Dauman's wage increase weren't disclosed, but Bloomberg reports that the New York-based executive made $37.2 million in 2013, which included a $16.9 million bonus, stock and other items.
Word of Dauman's renewal deal came the same day, Thursday, in which Viacom's stock price fell 6.1 percent, with Citigroup Research analyst Jason Bazinet predicting a tough round of licensing renewal negotiations with Dish Network (NASDAQ: DISH) later this year.
Dish has dug its heels in on a number of high-profile program renewal negotiations of late, and smaller cable operators including Cable One and Mediacom have moved on without renewing program deals with Viacom.
"Do you see a pattern?" Bazinet asked investors in his note.
Without Dish's 14 million subscribers, the analyst suspects Viacom could lose $704 million annually in affiliate fees alone.
For more:
- read this Bloomberg story
- read this Deadline Hollywood story
Related links:
Cable companies push back on spiraling program costs
Viacom misplays its renewal negotiations with Suddenlink
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