04.02.2009 02:15 PM
New FCC Chief in for a Hefty Pay Cut
WASHINGTON: Julius Genachowski will take something like an 86 percent pay cut should he take the reins of the FCC as chairman. Genachowski was formally nominated by the president last month to lead the agency. The job pays around $163,000.
By comparison, Genachowski took home nearly $1.16 million last year, according to Amy Schatz of The Wall Street Journal. His income included $770,000 from consulting fees and directorships for Ticketmaster and some private equity firms. Income from Genachowski’s pieces of Expedia, Google and Level 3 were not factored in.
Genachowski leads a venture capital firm in Washington, D.C. His resume includes gigs for Barry Diller’s InterActive Corp., and for former FCC Chairman Reed Hundt. His nomination to head the FCC is pending in the Senate.