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AT&T Slices $2M from CEO Pay Due to T-Mobile Whiff

AT&T has cut CEO Randall Stephenson's payment package by a total of $2.08 million in the wake of the company's failed bid to purchase T-Mobile USA. AT&T's board cut both his cash bonus for 2011 as well as reduced his stock. Stephenson still earned $18.7 million for the year. AT&T was forced to eat $4.2 billion charge for the year on the failed take-over bid due to a break-up fee (mixture of spectrum assets and cash) to which it had agreed.
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