Thursday, October 1, 2015

The Dickeys To Get Handsome Payouts

No need to worry about the next gig for the Dickey Brothers.

Each will be geting generous parting checks from Cumulus Media as they head-out the door.

According to a SEC filing, former CEO Lew Dickey, who actually transitions to a new post as "Vice Chairman" is receving a package totaling $4.35 million. That's triple his current base salary of $1.45 million.  The package also includes 18 months of company benefits, such as health and dental.

John Dickey, who has actually "left the building" will get $1.75 million, double his base of salary of $875K.

Incoming CEO, Mary Berner will be getting an annual base salary of $1,450,000 to start.  Her agreement is for three years and contains a provision for automatic extensions of one-year periods thereafter.  Her salary will be received "from time to time" by the cumulus Board.

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