Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.


CMP announces employee bonus plan

Published on .

Most Popular
Manhasset, N.Y. -- CMP Media announced Friday that the company will pay bonuses totaling $50 million to employees, sharing the proceeds of the company's sale for $920 million to United News & Media, the parent company of Miller Freeman, San Francisco. CMP employees will receive $4,000 for each full year of service plus 20% of their 1998 compensation. The average bonus will be more than $25,000 per person. "CMP's success has been built on the creativity, resourcefulness, hard work and loyalty of our people," said President-CEO Michael Leeds, whose family founded CMP more than 25 years ago. "My family wanted our people to share in that success in a very meaningful way, and we're delighted to be in a position to provide this bonus to what we believe is the finest work force anywhere." Miller Freeman is to officially take over CMP in early June.
In this article: