Believe it or not, this is the second $100M stock award that Google has given Eric Schmidt — he scored his previous one in 2011, and it isn’t fully vested yet. But the board’s Leadership Development and Compensation Committed approved another one on January 29, the company disclosed today in an SEC filing, as well as $6M in cash to be paid on February 14 “in recognition of his contributions to Google’s performance in fiscal year 2013.” He’ll receive the restricted stock units on February 5 and they’ll vest over a four-year period that begins May 2015. The company will determine the precise number of shares Schmidt will receive by dividing $100M by Google’s stock price on February 4. Schmidt’s wealth comes almost entirely from his Google shares: His compensation in 2012 was $7.6M. But the company picked up a $316,778 tab for personal security and $14,018 “for costs related to aircraft chartered for Google business on which family and friends flew in 2012,” according to its proxy statement. Google’s stock price appreciated about 60% last year while the benchmark Standard & Poor’s 500 rose about 30%.
The Paley Center for Media‘s International Council Summit will be held November 21st & 22nd in New York. The theme of this year’s event is “The Data Overthrow.” It will explore and debate new business, advertising, and distribution models in today’s age of unprecedented access to information about consumers and their interaction with content. Google chairman Eric Schmidt will give the keynote address. Featured speakers from a cross-section of businesses include Chinese entrepreneur Bruno Wu; Microsoft entertainment and digital president Nancy Tellem; John Skipper, co-chairman of Disney Media Networks Group and president of ESPN; Maker Studios‘ Ynon Kreiz; Twitter chief media scientist Deb Roy; FTC commissioner Julie Brill; BuzzFeed CEO Jonah Peretti; Star India CEO Uday Shankar; and Ronnie Screwvala, managing director of The Walt Disney Company India, among others. Key topics will be how Big Data’s growth affects the creative process and disrupts the media industry, as well as the longterm impacts. The sessions will be live-streamed at www.paleycenter.org/ic.
Google executive chairman Eric Schmidt was the keynote speaker at the Edinburgh International TV Festival as he substituted for Shine Group founder Elisabeth Murdoch. During Friday’s MacTaggart Lecture (transcript below), given for the first time by a television industry outsider, Schmidt said Google TV plans to launch in Europe early next year, with the UK a top priority. Many more partners are expected to join the fledgling TV service soon, Schmidt said, and the company is ”absolutely committed” to its fledgling small tube business which allows viewers to mix web and television content on TV screens via a browser. He said U.S. networks who balked at Google TV earlier this year still aren’t on board, and he hopes the service won’t face a similar problem in Europe. In his keynote, Schmidt also named three trends to watch: mobile, local, and social — a nod to Google’s recent acquisition of Motorola Mobility as well as a desire to personalize TV content and services. “Soon, your typical Internet users won’t be indoors with a PC; they’ll be out and about on their cell phone,” Schmidt said. “Reflecting this, new genres of online content and services are emerging. If content is king, context is its crown. … And if you think all this is exciting, or frightening, remember, this is only the beginning. In technological terms, we’re scarcely at the end of the first act of the Internet age.” Below is the transcript of Schmidt’s speech:
I understand this is the first time the MacTaggart has been given by someone not employed in Television broadcasting or production. I’m not sure whether that means the bar has been raised or lowered, but I’ll do my best!
It’s a huge honour to be invited to speak on such a prestigious occasion, especially as an industry outsider. When he spoke here two years ago, James Murdoch described himself as the crazy relative everyone is embarrassed by. I wonder what he’d call himself now. If James is the family outcast, I’m not sure what that makes me. The geek in the corner?… the alien species?… the Android? Don’t worry though, I promise I’m not a croak-voiced dalek.
Charles Allen called the MacTaggart ‘the longest job application in the industry’. It’s very kind of you to think of me, but I’m still fully committed to Google. All that’s changed is that Larry now has the keys to the Google Tardis. I promise I’ll stop the Dr Who quips soon – although in this case it is pretty apt. We have a private joke at Google that Larry is actually from the future.
I’m especially indebted to Mark Thompson – who gave last year’s lecture – for his tips on what makes a classic MacTaggart. The recipe boils down to anger and arch-villains, impossible proposals and insults. I’m not sure about anger, but I’ll do my best to come up with the rest.
Mark even identified candidates for demonising – usually a choice between the BBC and Murdoch. I must say how refreshing it is that Google isn’t on that list!
But I don’t kid myself – I know some of you have suspicions about Google. Some of you blame us for the havoc wreaked on your business by the Internet. Some accuse us of being irresponsible, uncaring, and worse.
Today I’ll aim to set the record straight on those points, and demonstrate why we can and should be optimistic about Television’s future, if we work together. But first, a little about my industry.
Peter Fincham said this lecture is the closest most TV people get to going to church. Well, I am a tech evangelist from way back, so I’ll take any excuse to preach about the Internet.
Why the Internet matters
In less than 30 years, the Internet has grown from almost nothing to more than 2 billion users. It’s available on Mount Everest, and on the South Pole. Half of adults in the EU use it every day. It has become such a profound part of life that 4 in 5 adults worldwide now regard Internet access as a fundamental human right.
Elisabeth Murdoch has backed out on a planned talk at this weekend’s Edinburgh International TV Festival. The Shine Group founder became convinced questions about phone hacking at Shine parent News Corp would dominate any appearance, a spokesman said Monday. Shine was purchased earlier this year by her father Rupert Murdoch’s News Corp for $680M. Her planned ascension to the News Corp board was put on hold in the wake of the phone hacking scandal and a shareholder lawsuit over the inside nature of the sale which sent a whopping $212M her way.
The Edinburgh International TV Festival is the UK industry’s most prestigious gathering. That’s why Google chairman Eric Schmidt is giving the keynote MacTaggart lecture Friday. He’s the first person outside the broadcasting arena to do so. News reports say he’s expected to offer an olive branch after years of fighting lawsuits from broadcasters and film studios over copyright infringement. Though his speech is still secret, he’s expected to tell content-providers, “Google needs you”.