Viacom CEO Takes $10m Pay Cut

MMTV’s parent company, Viacom Inc, paid its CEO, Philippe Dauman, $33.4m last year – about $10m less than in 2011.

Dauman’s reduced salary will further increase speculation about MTV after a ratings slump forced Dauman to deny that the television network is “broken” in a feisty conference call with Wells Fargo media analyst Marci Ryvicker last November.

He was billed as the United States’ highest-paid corporate executive in 2010, after taking in $84.5m in cash and stock, so Dauman will no doubt be hoping for a turn in Viacom’s fortunes sooner rather than later.

In spite of the economic climate, Dauman is convinced that MTV has what it takes to turn things around: “MTV is very healthy.

“Indeed, we have a great development pipeline and we have just added one of the major talents in our business in addressing young audience in Susanne Daniels.”

Dauman won’t be the only one left reeling, though, with Viacom COO Tom Dooley taking a 23 percent cut to $26.3 and Chairman Sumner Redstone seeing his bonus shrink to $5.7 million from $10 million.

What a sacrifice. Viacom, @cbs bosses take pay cuts, still rake in $20-30 million plus. ow.ly/hbwwk

— Deborah Potter (@TVNewsLab) January 28, 2013

However, some tweeters were less than sympathetic to the pay cuts.

On Friday, Viacom shares gained 0.8 percent to close at $59.02 on the Nasdaq.