Time Warner Inc. Chairman and Chief Executive Officer Jeffrey Bewkes received 2010 compensation valued at $26.3 million, a 34 percent increase from the previous year, based on government reporting requirements.
The CEO’s salary rose to $2 million from $1.75 million, New York-based Time Warner said in a regulatory filing today. Bewkes, 58, received a bonus of $14.4 million, up from $12.1 million, as well as $5.52 million in stock awards and $4.07 million in option awards, the filing showed.
Media executives have seen their incomes rise with the economic recovery and rebounding advertising market. Walt Disney Co. said in January CEO Robert Iger received $29.6 million in total annual compensation last year based on the government reporting rules, an increase of 24 percent. Shares of Burbank, California-based Disney rose 16 percent in 2010.
John Martin, Time Warner’s chief financial officer, received total compensation of $10.2 million, a 62 percent increase, according the filing.
Time Warner, owner of the Warner Bros. studio and HBO premium cable channel, fell 4 cents to $34.97 in New York Stock Exchange composite trading. The stock gained 10 percent in 2010.