Former CEO gets $14.7M payment while workers furloughed
Posted: 01/31/2012
The former chairman and CEO of a major broadcast corporation has received a $14.7 million payment as the company plans furloughs for many of its employees.
The payment to 30-year Gannett veteran Craig Dubow was revealed in the company's fourth quarter earnings call on January 30, according to a report in Broadcasting and Cable , an industry publication.
According to the report, Dubow had back surgery in 2009, taking four months off following surgery. He reportedly took a leave of absence in September to address continuing medical issues before resigning in October.
Broadcasting and Cable reports Gannett has planned first quarter furloughs for employees in its two publishing departments. For the most part broadcast division employees are not, for the most part affected, although employees at KPNX in Phoenix will be furloughed.
Gannett owns KPNX and the Arizona Republic in Phoenix.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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