Time Warner Cable execs receive bonuses |
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Wed, 21 Feb 2007 00:16
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NEW YORK (AP) - Time Warner Cable Inc. paid its chief executive a $5.6 million cash bonus for 2006 and its chief operating officer a bonus of $2.1 million, according to a regulatory filing Tuesday.The company, which is a subsidiary of the media conglomerate Time Warner Inc., disclosed the bonus payments in a filing with the Securities and Exchange Commission.Glenn Britt, Time Warner Cable's CEO, received the $5.6 million cash bonus for 2006 on top of a salary of $1 million as well as stock and stock options valued at $1.5 million, according to an earlier filing.Landel Hobbs, the chief operating officer, got a $2.1 million bonus on top of $762,500 in salary and stock and options worth about $900,000.John Martin, the company's chief financial officer, received a cash bonus of $1.2 million as well as a salary of $650,000 and stock and options valued at about $680,000.Time Warner Cable recently became a public company following the resolution of the bankruptcy process of Adelphia Communications Corp., which the company is buying together with Comcast Corp. Its shares are expected to begin trading soon on the New York Stock Exchange under the ticker symbol TWC.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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