A new contract extension for Gordon Smith will keep the association’s president-CEO on board through 2016. The new deal is likely richer than the current one under which he earned $1.4 million last year.
Gordon H. Smith, president and CEO of the National Association of Broadcasters, has agreed to a five-year contract extension that keeps him at the helm of the trade association through 2016.
NAB declined to divulge terms of the new deal, but the annual compensation is likely greater than what he made in fiscal 2011 — $1.4 million, including bonus and other benefits, according to NAB’s IRS filing.
Smith, 59, joined NAB in November 2009 and oversees the advocacy efforts of thousands of U.S. radio and television stations. He is a former two-term United States Senator from Oregon (1996-2008) and was a successful entrepreneur before launching his career in politics.
“NAB membership is happy to have Gordon Smith navigating our interests in Washington, and we’re delighted that he’s agreed to this contract extension,” said NAB Joint Board Chairman Paul Karpowicz, president of Meredith Corp.’s Local Media Group. “Faced with two potential game-changing issues — the Performance Rights Act for radio and the spectrum bill for television — Gordon demonstrated uncommon grace, savvy and determination in preserving a bright future for broadcasting.”
“I’m thrilled by the vote of confidence by the NAB Board and membership,” said Smith. “As president of NAB, I get a first-hand view of the indispensable role that local and network broadcasters play in serving communities every day with news, entertainment and life-saving weather warnings. Broadcasters take seriously our role as stewards of the airwaves, and it is a privilege to represent a diverse membership with a vibrant future.”
During his tenure in the U.S. Senate, Smith’s committee assignments included the Senate Commerce Committee, the panel that oversees broadcast-related legislation. He also served on the Senate Energy and Natural Resources Committee, the Senate Finance Committee, and the Senate Foreign Relations Committee.
After leaving the Senate in 2008, Smith joined the law firm of Covington & Burling LLP for 10 months before accepting an offer to head the NAB.