IAC CEO Diller gets $3.1 million in 2006 |
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Tue, 01 May 2007 00:45
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NEW YORK (AP) - Barry Diller, the chairman and chief executive of media conglomerate IAC/InterActiveCorp, received a compensation package valued at $3.1 million in 2006, according to a proxy statement filed Monday.Diller, who is also the company's controlling shareholder, received a base salary of $500,000 and a bonus of $1.75 million, according to a document filed with the Securities and Exchange Commission.He also received other compensation of $819,178, including $517,214 for the personal use of the company's aircraft, and $235,395 for the imputed interest on a loan. Diller also received $7,500 in the company's 401(k) match, and $66,569 in miscellaneous perks such as the use of two cars leased by the company and the personal use of other car services.The Associated Press calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock and options awards granted during the year. The calculations don't include changes in the present value of pension benefits and sometimes differ from the totals released by the companies.IAC/InterActiveCorp, includes HSN, formerly the Home Shopping Network, Ticketmaster and CitySearch.Diller was No. 717 in Forbes magazine's most recent list of the world's richest people, with an estimated total wealth of $1.4 billion. He shared the spot with several others.IAC posted a decline in its 2006 earnings, weighed by charges, but its revenue rose to $6.28 billion from $5.41 billion in 2005. The company's shares closed at $37.16 at the end of 2006, up 31 percent for the year.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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