Time Warner Rewards Top Two Executives

Thu., March 26, 1998

Compiled From Wire Services

Time Warner Inc. gave huge bonuses to Chairman Gerald Levin and Vice Chairman Ted Turner to reward them for the media and entertainment giant’s success last year, the company reported Wednesday.

Levin’s bonus jumped to $6.5 million from $4 million in 1996 as Time Warner recorded its first annual profit since the company was formed in 1989. Turner, in his first full year as vice chairman, saw his bonus leap to $5 million from $1 million in 1996.

Time Warner also extended Levin’s contract through 2003, raised his annual salary 43 percent and awarded him potentially lucrative stock options, the company said in an annual filing with securities regulators.

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Time Warner Rewards Top Two Executives

Jesse Tinsley

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