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Time Warner CEO Bewkes could get $32 million from AT&T merger

Reuters

(Reuters) - Time Warner Inc Chief Executive Jeff Bewkes could walk away with a $32 million payout if the media company completes its $85 billion merger with AT&T Inc.

According a regulatory filing by Time Warner on Monday, Bewkes could receive grants worth twice his annual long-term incentives under terms of the deal. (http://bit.ly/2f97AZ9)

A filing in April showed Bewkes' long-term annual target incentive package was worth $16 million. (http://bit.ly/2eDQEaE)

Bewkes has not yet received any restricted stock units or a retention award in relation to the AT&T deal, Time Warner said on Monday.

Time Warner did not immediately respond to a request for comment.

(Reporting by Narottam Medhora in Bengaluru; Editing by Ted Kerr)