Time Warner Execs Have $216 Million at Stake in AT&T Case


Time Warner Inc.’s top five executives were due for a combined payout of as much as $216 million in their sale of the company to AT&T. U.S. government efforts to block the deal put that lucrative reward in limbo.

The executives, including Chief Executive Officer Jeffrey Bewkes, will get the money if they leave within two years of closing a merger. The Justice Department is suing to stop the $85.4 billion transaction, arguing it gives AT&T too much power in the media industry. AT&T has vowed to fight in court, meaning a judge may ultimately decide the outcome unless the sides settle.

Bewkes, 65, has said he would step down after a transition period, and no other member of the Time Warner leadership team has officially announced plans for after the merger. AT&T has said one of its executives, John Stankey, would oversee Time Warner following the close of the deal. After AT&T’s most recent big deal, the takeover of DirecTV, most of the satellite operator’s top leaders departed.

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