RadioInk.com and RBR.com analyzed SEC documents filed by Cumulus Media (owner of KNBR and KFOG) ahead of its acquisition of Citadel and found that Suleman will get a $2 million bonus this year for hitting a $232 million profit target. He’s also getting $1,125,000 in annual salary and $27.4 million in stock options.
RadioInk points out that chief operating officer Judy Ellis will get $478,391 in salary, a $250,000 bonus for hitting the profit target, and $1.4 million in stock options. Grand total: $2.1 million.
Cumulus’ acquisition of the 223-station Citadel chain should close on Labor Day, meaning that KNBR, KFOG and KSAN will be apart of the same happy family as KGO-AM and KSFO.