On the (somewhat stale) news that The Hollywood Reporter offered Page Six editor Richard Johnson $1 million to move to THR, The Wrap‘s Sharon Waxman boggles.
“A million bucks? Is anyone counting what they are spending over there? Finkelstein’s new empire is throwing millions around like they’ve figured out how to make them back,” she wrote yesterday.
She takes a couple stabs at what other THR execs are bringing in: If her numbers are at all accurate, THR’s a great place to be the boss.
- Group publisher Richard Beckman and THR editorial director Janice Min: “near $1 million each, at least.”
- Associate publisher Michaela Apruzzese: “undoubtedly” making $300,000.
- Ad sales execs: $200,000, with promises of six-figure bonuses.
- “Numerous” senior executives are making “high-six-figure” salaries.
- And, Waxman reports, the publication is spending $2 million on a redesign.
This is a “high-risk” strategy, says Waxman. To us, it certainly looks like the publication is spending money like it’s free–but if it can turn itself around, it’s worth it, right?