Categories: OLD Media Moves

Big increases in Dow Jones compensation packages

The top executives at Dow Jones & Co., the parent of The Wall Street Journal, Barron’s and Marketwatch, had a good year financially in terms of executive compensation, according to the company’s proxy statement, filed Friday with the Securities and Exchange Commission.

CEO Richard Zannino receved total compensation of $4.16 million, up from the $2 million he was paid in 2005. Zannino was named the CEO at the beginning of 2006. The compensation package included $173,000 in travel expenses to and from work. His base salary rose from $760,000 to $900,000.

Zannino also received more than $1.6 million in stock awards in 2006.

Journal publisher Gordon Crovitz received a pay package of $1.9 million, and his base salary rose to $600,000 from $505,000, according to the proxy.

Journal managing editor Paul Steiger received a base salary of $547,692, up slightly from his salary of $528,327 in 2005. Steiger’s total compensation, including stock options and option awards, was $1.38 million, up from just more than $1 million in 2005.

Steiger,Â who received $313,000 inÂ stock awards in 2006,Â is expected to step down as ME of the paper later this year. A replacement could be named as soon as next month.

Read about the 2005 compensation here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.