$6 Million for Biondi

Bill Sjostrom —  20 February 2006

Matt Bodie at PrawfsBlawg has a nice postscript on Icahn’s settlement with Time Warner (click here). Frank Biondi will get a nice postscript too–$6 million. Biondi agreed late last month to serve as Time Warner’s CEO in the event Icahn was successful in ousting the board. Even though Icahn was unsuccessful, Biondi gets $6 million for the few weeks he helped Icahn. As Biondi put it: “It beats minimum wage, that’s for sure.” See this article for more details.

Trackbacks and Pingbacks:

  1. Ideoblog - February 20, 2006

    Biondi’s payday…

    Here’s some perspective on executive compensation. Frank Biondi, former head of Viacom and Universal, will get a payoff of at least $6 million for a few weeks work with Carl Icahn on the latter’s now-ended bid for Time Warner. Biondi…