Time Warner's CEO Will Get Paid $80 Million If He Sells To Comcast, Even Though TW Loses 200K Customers Per Quarter
Larry Busacca / Getty Images
There are two interesting coincidences that might explain why Time Warner is so enthusiastic about being acquired.
1. Time Warner CEO Rob Marcus will get an $80 million payout if he sells the company. CFO Arthur Minson Jr. will get $27.1 million, CTO Michael LaJoie gets $16.3 million, and COO Philip Meeks gets $11.7 million in the deal.
2. Time Warner is losing subscribers like a sieve. Here are the most recent stats from One Touch Intelligence, which tracks TV and broadband subscriber data:
Note that most of those points on the chart are below zero - meaning the companies lose subscribers most quarters. Comcast looks like it might be turning things around. Time Warner ... the less said about those metrics, the better.
So, bottom line: Time Warner is currently losing about 200,000 customers per quarter, and its CEO would like to be rewarded for that performance with an $80 million golden parachute.
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