CBS Chief Executive Les Moonves doesn’t sound particularly worried about NBC’s decision to put Jay Leno in the 10:00 pm timeslot five nights a week. In fact, he sounds a bit giddy about the whole thing.
The way Moonves figures it, CBS could bank millions in additional revenue from the switch. Moonves described his thinking on a call with investors, using what he acknowledged were “ballpark” figures to make his point. Essentially he said that even if Leno does well the show simply will not attract the kind of advertising dollars of, say, “CSI”. That means CBS will take an even bigger share of the advertising money in primetime.
“Assume we were the No. 1 at 10:00 last year and we took in 38 percent of the revenue available at 10:00 on broadcast television. Remember, there are only three networks [Ed: Fox doesn't run competing programming at that hour] And assuming Jay Leno does great, does what he’s doing now. Suddenly, that 38 percent will turn into 45 percent, maybe 47 percent. So you take 10 percent more revenue in that time period. And 10 percent of an arguably many hundreds of millions of dollars pie is a lot of money.
While we were at The Cable Show last week, Comcast filed a documents with securities regulators detailing its 2008 executive compensation. The filing showed that Chief Executive Brian Roberts received $23.7 million in 2008 up from $20.8 million in 2007 but below his 2006 payout of $26 million.
Roberts, as the AP points out, has long been criticized by shareholders for the size of his pay package. His increase comes after Comcast shares fell some 7.6 percent in the calendar year 2008, but this outperformed most of the major market indexes, which fell between 30 to 45 percent last year.
In February Roberts and other executives agreed to forgo a pay rise in 2009 and cut back on personal benefits, including a previous agreement which had guaranteed the payment of his base salary and cash bonus to his heirs for up to five years after his death — a so called ‘golden coffin’ package.