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Viacom CEO Dauman's pay falls to $33.4M in 2012

LOS ANGELES (AP) -- Viacom CEO Philippe Dauman's pay package fell 22 percent in fiscal 2012 to $33.4 million. The company cited a global economic slowdown and audience declines at its TV networks as reasons for the pay cut.

Sumner Redstone, the 89-year-old founder and controlling shareholder, saw his pay package decline 3 percent to $20.4 million.

The figures come from a Viacom filing Friday with the Securities and Exchange Commission.

The Associated Press formula for calculating executive compensation considers salary, bonuses, perks, stock and options awarded to the executive during the year, but not changes in the present value of pension benefits.

That makes the AP total slightly different in most cases from the total reported by companies to the SEC.