Pay drops (you read that right) for Media General executives

Winston-Salem Journal | Citybizlist
Cynical journalists (those of you who are left), take heart: This is not a post about a news company executive getting a $500,000 bonus as her newspapers lay off employees. That was last week. Nor is it about an executive getting a $4.4 million severance package after overseeing a shrinking newspaper division that cut jobs and closed a major newspaper. Again: last week. This week, Media General reports that CEO Marshall Morton’s income dropped 38 percent from 2010 to 2011, according to Citybizlist. The big reason: He didn’t receive any stock awards. His salary also dropped 6 percent due to a companywide, 15-day furlough. (He still made $1.44 million, more than he did in 2009.) “For the fourth consecutive year, none of the top six executives received money from the company’s annual incentive plan,” reports the Winston-Salem Journal’s Richard Craver. || Related: New publisher and president at Tampa Tribune (Associated Press)

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