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May 31, 2005

Sumner Redstone's big payday

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Posted by Dominic Basulto

Viacom's stock price is down 18% over the past 12 months, but Sumner Redstone's paycheck is bigger than ever, and that's got shareholders rankled, says the New York Daily News. The news of Redstone's "mega payday" was especially irksome to CBS employees, who labor in the part of Viacom's media empire that is experiencing the most turmoil.

For those keeping track, the 82-year-old Redstone pulled in $56 million last year, a hefty 58% increase from the previous year. His left-hand and right-hand men, too, had nice paydays, with each of them pulling in $52 million last year.

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