Cable Giant Comcast Hikes Pay for Law Head After New Contract

Comcast Corp., the largest US cable company, has extended the employment contract of its chief legal officer Thomas Reid and disclosed that it awarded him a pay package last year valued at more than $14.1 million.

Reid’s remuneration was disclosed Friday by Comcast in a proxy statement as it prepares to spin-off several cable channels—such as MSNBC, CNBC, Bravo, and USA—into a new publicly traded company that has yet to announce its name. While most of subsidiary NBCUniversal Media LLC will go with the new entity, Comcast will retain control of the NBC broadcast television network, ...