Time Warner's CEO gets $19.6m in compensation

Los Angeles: Time Warner reported compensation of $19.6 million for CEO Jeffrey Bewkes last year, a 4.9 per cent increase.

Chairman Richard Parsons, 59, had reported pay of $18.6 million, down from $22.5 million, the company said yesterday in a proxy filed with the US Securities and Exchange Commission.

Bewkes, 55, named CEO on November 5 after two years as president and CEO, is considering selling assets, including publications and the AOL network.

The company has been hurt by declines in its publishing and AOL internet businesses.

Bewkes's compensation included $1.25 million in salary and a $7 million bonus. His total included $7.33 million in stock awards and $3.9 million in stock options, according to the filing.

Parsons's reported pay included a base salary of $1.5 million and a $7.5 million bonus. His total also included $4.93 million in stock awards and $4.12 million in stock options, according to the filing. His base salary was unchanged from 2006.

Time Warner fell 23 cents to $14.18 on Thursday in New York Stock Exchange composite trading.