Anders Gyllenhaal, Ex-Miami Herald Editor, Made Almost $1.3 Million at McClatchy Last Year

Categories: Media Watch
Anders Gyllenhaal
At the Miami Herald, staffers are facing two weeks of unpaid furloughs this year and a hiring freeze has left key jobs unfilled for months. The paper's parent company, McClatchy, saw revenues drop 8 percent last year while advertising plummeted by 9 percent. So news that McClatchy has handsomely rewarded its top bosses with extra payouts and stock should piss a lot of folks off at One Herald Plaza.

Take Anders Gyllenhaal, the Herald's former executive editor who became a McClatchy vice president in 2010 after overseeing hundreds of layoffs. He went home with $56,000 in "incentive compensation" last year on top of his $375,000 salary, according to new filings obtained by Riptide. Along with stock awards and "other compensation," he nearly made $1.3 million last year. That's like 45 cub reporters' salaries!

Gyllenhaal's compensation is listed in an SEC filing McClatchy submitted to the Securities and Exchange Commission on Monday. The paperwork also lists the end-of-the-year tallies for several other top execs.

Peter Tira, a McClatchy spokesperson, points out that technically none of the top bosses earned bonuses last year. They did, however, bank nicely in "non-equity incentive plan compensation," which -- as far as we can figure -- is essentially a performance-based bonus.

Robert Weil, VP of operations, earned a $98,350 boost on top of his $546,000 salary; Karole Morgan-Prager, the firm's senior counsel, cashed in $64,500 atop her $430,000 salary; and Patrick Talamantes got $79,064 on his $494,150 salary.

CEO Gary Pruitt (who recently announced he's leaving to head the AP) topped charts with $4.3 million in total compensation, including a $304,000 "incentive plan compensation" boost.

Despite their paydays, the brass can hardly claim rousing success. Along with declining revenues and chain-wide layoffs, McClatchy's stock, which was valued at $34 per share when Gyllenhaal joined the Herald in 2007, has falled by 92 percent to $2.75 a share. Shareholders, to use the technical terminology, have been royally fucked.

Gyllenhaal, a former investigative reporter and Broward County editor, oversaw some of the deepest layoffs in Miami Herald history as executive editor before leaving in 2010.

Riptide emailed him about his bonus, but we haven't heard back.

Update: Gyllenhaal emailed us this statement:
Decisions on executive bonuses at McClatchy are made by a committee of the board of directors. I understand they try to balance everything from the company's progress, to what's happening among our competitors, to what the advice is from outside compensation consultants. There have years recently with no bonuses and some with partial bonuses as they weigh all of this.
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11 comments
BeachcomberT
BeachcomberT

Maybe they should dock his bonus by 100K for issuing an ungrammatical e-mail statement to your blog.

slick60
slick60

How about those annoying pop ups that block your screen after you log off the herald - online. Think that makes you want to come back again?

"Print is dead" --Ghostbusters

michael wind
michael wind

there is no need for newspapers since we now have toilet paper.

Gmelikov
Gmelikov

Tis technoloy that killed the beasty printed word. As Albert Einstein said decades ago: It as become appallinly obvious tat our technology has exceeded our humanity.                    

witz
witz

I knew Anders Gyllenhaal when he was poor. I don't begrudge him these riches, but I wish he had earned it for building, not dismantling.  I also wish he hadn't tried to make it seem as if the bonus question is out of his hands. Arrogance was never his style.

LeeTop
LeeTop

What newspaper reporters don't want to accept, acknowledge or understand is that the internet has revealed that the market value of a online news story is just about zero. It doesn't matter how much data you discover or people you interview. It's market value is meaningless.

Newspaper reporters like to point to and blame executives like Gyllenhaal and their bonuses.

It doesn't matter if he got a bonus or not. It does not change that the market value of what newspaper reporters write is worthless.

Payton_vege
Payton_vege

Amazing write-up! This could aid plenty of people find out more about this particular issue. Are you keen to integrate video clips coupled with these? It would absolutely help out. Your conclusion was spot on and thanks to you; I probably won’t have to describe everything to my pals. I can simply direct them here!

BooHiss
BooHiss

Paid to fail, seems like the usual these days.

LuigiLu
LuigiLu

 Gyl's bonuses/gifts have nothing to do with the internet.  His job should have been to make the company that paid him financially successful.  Did he do that?  NO.  Why was he rewarded?  His salary has nothing to do with the way journalists value their contributions. Content is valuable, and the fact that most internet "news" readers rely on traditional newspaper sites reinforces the value of content.  Your remarks reveal a narrow view of something that you appear to know little about.

M. Zoe Leal
M. Zoe Leal

Information is the underlying asset in every decision we make and journalists play a big role in the creation of that information. Some professions have figured out how to charge a premium for information, like the competitive intelligence industry. I don't think market value has killed journalism. I think corporate interests have killed the industry in such a way that I don't think it will survive for very long, but that's just the industry as we know it. I am fine with the industry dying because it is not working. What will never change is that there is immense value in a free press and the role of a journalist in society as a whole. Someone needs to come up with an intelligent solution soon because we have too many talented journalists waiting on the sidelines at a time when we need them on the field doing what they do best.

Billy Smithwick
Billy Smithwick

 "Talented journalists".  Guffaw.  The industry is filled with hacks that can't cut it in any other field, and those that only have good looks to sell.  What journalists do best is take a non-story, embellish it, shove it down the public's throat, then move on to the next fluff piece.  Spend 8 seconds on a major economic piece, and five minutes on Kim Kardashian's ass.  "Journalists" no longer exist.  Instead, we have Nancy Grace.

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