10:53 am Aug. 17, 2012
The Lineup collects the media stories, big and small, that are on our radar each day.
The regulatory filing is in, and incoming New York Times Company C.E.O. Mark Thompson stands to make—$5 million by 2013.
Thompson, outgoing director-general of the British Broadcasting Corp, will receive a compensation package that includes $1 million in base salary, bonuses, and $3 million in performance based stock and stock options.
His compensation is similar to that of former New York Times CEO Janet Robinson, except that Thompson will not take part in the company's pension plan.
Additionally, Thompson will receive up to $60,000 in relocation fees to New York from Oxford, England and $25,000 in legal fees connected with the employment agreement.
And in fact, his overall pay package stands to total much more than that, according to Bloomberg's Edmund Lee:
Thompson, who served as the British Broadcasting Corp.’s director general, stands to make as much as $4.5 million from his signing bonus, $2 million in annual incentives and $3 million in long-term incentives.
Here are two more takes on Thompson, both from CJR: Hazel Sheffield talks to some of his friends and colleagues. “He’s always been fascinated by big, old, powerful, prestigious institutions,” one of them tells her. “He has the hide of a rhinoceros, and almost solipsistic self-confidence. He’s extremely comfortable in the use and distribution of power.”
And Emily Bell writes:
If Mark Thompson has a superpower, though, it’s soldiering on with few resources, sweeping the stables of previous excesses. Both as chief executive of Channel 4 and as director general of the BBC, he followed visionary expansionist regimes. Maybe as a consequence of the conditions he has operated in, Thompson never won many popularity contests with his own staff outside his natural domain of the newsroom. His intellectual self-confidence is intimidating for some, his self-sufficiency has frustrated some senior managers, and others acknowledge his considerable intelligence and his flair for austerity but find it hard to locate his creative vision. The jobs of running the BBC and running the NYT are similar in one overriding respect: that as leader of the corporate body, you are never allowed to become dictator of the whole operation.
In other news...
Fareed Zakaria has been reinstated at Time and CNN. [NYT/Media Decoder]
MSNBC chief Phil Griffin calls CNN "desperate." [The Huffington Post]
HuffPost's new ad sales boss has been dismissed after just a few months on the job over an old DWI-related charge. [Ad Age]
Thrillist has raised $13 million. [AllThingsD]
More by this author:
- Ahead of an avalanche, the 'Times' reminds us this new thing is theirs, and it's called a 'Snow Fall'
- What is this new Twitter 'Amplify,' you ask?