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Time Warner CEO Jeffrey Bewkes’ compensation soars 50% to $49 million

Time Warner Chief Executive Jeffrey Bewkes received compensation of $49 million in 2017.
Time Warner Chief Executive Jeffrey Bewkes received compensation of $49 million in 2017.
(Lionel Cironneau / Associated Press)

Compensation for Time Warner Chief Executive Jeffrey Bewkes — who is hoping to take a victory lap after orchestrating the sale of his company to AT&T — soared to $49 million in 2017, according to a regulatory filing.

His 2017 compensation was 50% higher than the previous year, when he received $32.6 million.

The boost came from an extra allocation of stock awards. Bewkes received $32 million in stock grants last year, up from $7.8 million in 2016. Time Warner offered its top executives stock incentives to stay with the company through the transition to AT&T ownership, and Bewkes received double the amount of his regular long-term incentive stock award to cover two years — 2017 and 2018.

The merger, however, has stalled. The U.S. Justice Department sued AT&T and Time Warner in November in an attempt to block the combination, alleging that it was anti-competitive. A trial has been underway in Washington since mid-March to decide whether AT&T will be allowed to complete its $85.4-billion purchase of Time Warner.

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Closing arguments in the case will be heard Monday. U.S. District Judge Richard Leon is expected to rule sometime in June.

In 2017, Bewkes was paid a base salary of $2 million. In addition to the $32 million in stock awards, he was paid a cash bonus of $14.7 million. He received more than $260,000 in other benefits, including personal use of a corporate jet, a car and driver and $30,000 to help pay for financial planning services.

Bewkes, 65, has served as chief executive of Time Warner for nearly a decade.

meg.james@latimes.com

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@MegJamesLAT


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