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The Pay Check: E.W. Scripps CEO's 2017 compensation; new Meredith CEO's salary


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The Pay Check: E.W. Scripps CEO's 2017 compensation; new Meredith CEO's salary

S&P Global Market Intelligence's regular look at executive compensation in the U.S. media and communications industries.


* Adam Symson, who succeeded Rich Boehne as president and CEO of E.W. Scripps Co. in August 2017, took home about $2.0 million in 2017 total compensation, including $701,231 in salary and $634,168 in stock awards, according to a Feb. 16 company proxy statement. Boehne was paid roughly $3.9 million in 2017. Lisa Knutson, who replaced Timothy Wesolowski as CFO of the company in November 2017, pulled in $1.4 million in 2017 total compensation, while Wesolowski received about $2.0 million.

* Roland Caputo, New York Times Co.'s executive vice president of print products and services group since March 2013, will serve as interim CFO of New York Times Co. following the retirement of James Follo on Feb. 28. Caputo will be entitled to a cash bonus, calculated at the rate of $14,000 per month, for the period in which he serves as interim CFO, according to a Form 8-K filed Feb. 15.

* Davinder Athwal, who recently joined Blucora Inc. as CFO, will receive an initial annual base salary of $400,000, a target annual bonus for 2018 of at least 125% of base salary to be paid on a pro-rated basis based on the number of days employed during 2018, an initial grant of equity in the aggregate amount of $500,000 and an annual grant of equity for 2018 in the aggregate amount of $1.0 million, according to a Feb. 15 SEC filing.

* Bruce Campbell will continue to serve as chief development, distribution and legal officer of Discovery Communications Inc. through Feb. 14, 2022. The company increased the annual base salary of Campbell to $1.8 million and his bonus target to 150% of his base salary, with a blended target for 2018 based on 45 days at his previous target of 130% and the remainder of the year at the new target of 150%. Campbell will be recommended for an equity grant with a target value of $3.0 million as part of Discovery's regular annual equity grants, the company said in a Feb. 14 SEC filing. Campbell will also be recommended for a contract renewal grant of restricted stock units with a target value of $3.75 million, which award will provide for vesting in three substantially equal installments beginning on the second anniversary of grant.

* Group Inc. disclosed in a Feb. 9 SEC filing that President and CEO David Brown will receive a cash bonus of $321,000 for his performance in 2017, while CFO Kevin Carney and Chief People Officer Roseann Duran will be paid $100,000 and $82,000 in cash bonus, respectively.

* Meredith Corp.'s newly appointed President and CEO Thomas Harty's new base salary will be $900,000 and the new percentage of base salary payable as a target bonus under the management incentive program shall not be less than 100%. Steve Lacy, who became executive chairman of Meredith, will now receive an annual base salary of $850,000, the company said in an SEC filing.


* Straight Path Communications Inc. approved cash bonuses for certain executives for the portion of fiscal 2018 preceding the anticipated closing of the company's acquisition by Verizon Communications Inc. Straight Path CEO Davidi Jonas, CFO Jonathan Rand, Chief Technology Officer Zhouyue Pi and General Counsel David Breau will be paid $227,500, $262,500, $157,500 and $150,500, respectively, in cash bonuses, according to a Feb. 8 SEC filing. Under Straight Path's 2013 stock option and incentive plan, each nonemployee director of the company is entitled to receive, on each Jan. 5 an annual grant of 8,000 restricted shares of the company's class B common stock. In lieu of making this annual grant in respect of 2018, on Feb. 6, the compensation committee approved the payment of a cash bonus to each nonemployee director representing the value of such director's annual grant of restricted shares prorated based on the portion of calendar year 2018 preceding the date of the closing and valued at the per share amount. The closing is expected to occur on or about Feb. 28, resulting in a cash bonus for each such director of about $245,333.

* Limelight Networks Inc. President and CEO Robert Lento will receive a cash bonus of $836,800 for his performance in fiscal year 2017. CFO Sajid Malhotra, Chief Sales Officer George Vonderhaar and Chief Administrative and Legal Officer & Secretary Michael DiSanto will receive $483,000, $435,120 and $332,010, respectively, in cash bonuses, the company disclosed in a Feb. 6 Form 8-K filing.