PROFITS at Associated Newspapers are down but rejoice that editor Paul Dacre is not suffering. He saw his remuneration package rise 8.5 per cent last year to reach £1.6 million. That includes a basic salary of £1.1 million and £467,000 in “cash allowances ... in lieu of continued membership of the DMGT (Daily Mail and General Trust) Senior Executives Pension Fund”. On top of that came £54,000 of “benefits in kind”, which included the taxable value of company cars, fuel allowances and company contributions to medical insurance plans.
Even so, Paul Dacre came in a lowly third in the DMGT fat cat pecking order. Euromoney chairman Padraic Fallon was paid £4.3 million, including £4 million by way of a profit share. His emoluments totalled a notable 6.5 per cent of Euromoney’s entire pre-tax profit. Outgoing chief executive Charles Sinclair was paid £1.9 million, including a £560,000 bonus, equivalent to 52 per cent of his salary.
A breakdown of senior management salaries at the BBC has found 13 on more than £250,000 a year, with a further 26 receiving more than £190,000. But in a sign of the times it has been announced that there will be no bonuses for the top brass this year.
ITV is also in austerity overdrive, with a pay freeze for anyone earning more than £60,000. The salaries of executive chairman Michael Grade, chief operating officer John Cresswell and managing Rupert Howell have been frozen, but don’t feel too sorry for them; the trio are on £813,000, £575,000 and £450,000 respectively.