The owner of USA Today increased its CEO's pay package by 80 percent to $7.9 million last year amid cutbacks in the struggling newspaper industry. Gannett Co. says the raise was meant to reward Craig Dubow for boosting the publisher's earnings and reducing debt as revenue fell for the fourth consecutive year.
The Associated Press valued Dubow's compensation for both 2010 and 2009 based on its analysis of regulatory documents.
The largest parts of Dubow's 2010 pay consisted of stock incentives with a total value of $5 million.
Dubow also received a $1.75 million cash bonus to supplement his $981,000 salary and perks totaling $159,000.
Besides USA Today, Gannett owns more than 80 other daily newspapers.