Sunday, May 24, 2015

Comcast extends CEO Brian Roberts' contract to 2015

In the lobby of the Comcast Center , CEO Brian L. Roberts is framed by a video wall showing scenes of Philadelphia. (Clem Murray / Staff Photographer)
In the lobby of the Comcast Center , CEO Brian L. Roberts is framed by a video wall showing scenes of Philadelphia. (Clem Murray / Staff Photographer)

Brian Roberts is getting another year at Comcast. Again.

The Pennsylvania-based cable giant announced in filings to the SEC that Roberts, the 55-year-old son of the company's founder, had his contract extended to June 30, 2015.

He has been working on single year contracts since ascending to the Chairman and CEO position in 2005, which has given him a decade's worth of lavish compensation - $31.4 million in salaries, options and other perks last year - and a major voting control in the nation's largest cable company.

The move comes as Comcast works to push through its acquisition of number two cable provider, Time Warner Cable, despite opposition from consumer groups and some lawmakers. In 2009, the Roberts-led Comcast purchased NBCUniversal, giving it a major stake in programming as well as cable delivery.

Reuters/TheWrap.com