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Cablevision's Former COO Was Paid $23.19 Million For 2011

By William Launder Of DOW JONES NEWSWIRES NEW YORK (DOW JONES)--The former chief operating officer of Cablevision Systems Corp. (CVC), Tom Rutledge, received total compensation for 2011 valued at $23.19 million, more than twice that of his boss and ranking him as one of the cable industry's best-paid executives. Rutledge resigned abruptly from Cablevision last year to become chief executive of Charter Communications Inc. (CHTR), part of a broader management shakeup at Cablevision that has sparked concerns about the cable operator's leadership. The Bethpage, N.Y., company shed more than $500 million in market value in the minutes after Rutledge's departure was disclosed in December. Shares are down 43% over the last 12 months. Rutledge's 2011 total compensation included more than $12 million in retirement benefits, after netting out forfeited stock awards, based on terms of an employment contract he negotiated several years earlier. For 2010, Rutledge received total compensation valued at $28.22 million. Elsewhere within Cablevision, Chief Executive Jim Dolan received total compensation for 2011 valued at $11.45 million, down from $13.44 million a year earlier. Chairman Charles Dolan received $10.97 million for the year, down from a total package valued at $13.77 million for 2010. Earlier this week, industry peer Time Warner Cable Inc. (TWC) said CEO Glenn Britt received total compensation for 2011 valued at $16.43 million, down around 6% from a year earlier. -By William Launder, Dow Jones Newswires; 212-416-3412; william.launder@dowjones.com

Stock News for Cablevision System (CVC)
DateTimeHeadline
02/12/201616:47:22Current Report Filing (8-k)
02/10/201611:45:29Amended Statement of Ownership (sc 13g/a)
02/10/201610:18:29Amended Statement of Ownership (sc 13g/a)
01/22/201617:22:01Annual Statement of Changes in Beneficial Ownership (5)
01/22/201617:15:47Annual Statement of Changes in Beneficial Ownership (5)
01/06/201611:43:19Amended Statement of Beneficial Ownership (sc 13d/a)
12/22/201520:04:00Cable Deal Hits New Bumps
12/17/201516:52:00DJ Questlove Performs at 15th Annual Holiday Rock & Roll Bash...
12/10/201516:35:48Statement of Changes in Beneficial Ownership (4)
12/02/201516:47:06Information Statement - Merger or Acquisition (definitive) (defm14c)
11/17/201518:00:09Are Verizon, TWC, and Cablevision Delivering Slower-Than-Advertised...
11/16/201517:00:16Information Statement - Merger or Acquisition (preliminary) (prem14c)
11/13/201520:30:03Here's Why Comcast's Wireless Service Won't Threaten AT&T, Verizon...
11/13/201516:56:38Statement of Changes in Beneficial Ownership (4)
11/13/201516:54:39Statement of Changes in Beneficial Ownership (4)
11/10/201513:02:16Amended Statement of Ownership (sc 13g/a)
11/09/201516:17:13Statement of Changes in Beneficial Ownership (4)
11/03/201518:30:00Cablevision Posts Subscriber Losses in Third Quarter
11/03/201516:37:17Current Report Filing (8-k)
11/03/201516:36:53Quarterly Report (10-q)

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