Categories: OLD Media Moves

TheStreet to pay Cramer $2.5 million in royalties in 2014

Financial news site TheStreet.com will pay co-founder Jim Cramer a royalty fee of $2.5 million in 2014, according to the company proxy statement filed Friday with the Securities and Exchange Commission.

The company is paying Cramer $208,333 monthly this year to satisfy the royalty agreement, according to the proxy. He was paid $1.48 million in royalties in 2013 under a previous royalty agreement.

In addition, the company has an agreement with Cramer, who writes for the site in addition to hosting “Mad Money” on CNBC, an annual licensing fee of $300,000 to use his name and likeness to promote itself. The licensing fee is paid in a lump sum on Jan. 1 in 2014 and 2015 and then on a quarterly basis for 2016 and 2017.

Cramer has recently received $3 million in restricted stock in two payments — one in December 2013 and another in January, according to the proxy.

The filing also disclosed that chief executive officer Elisabeth DeMarse’s base salary is increasing in 2014 to $480,000 from $400,000. Cramer is not paid a base salary.

For 2013, TheStreet reported revenue of $54.5 million, a 7.4 percent increase. The net loss for the year was $3.8 million compared to a net loss of $12.7 million in the prior year.

To read the proxy statement, go here. The company’s annual meeting will be held June 12 in New York.

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.

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