Japan's TBS to cut executives' pay

Drop in ad revenues has net slashing salaries

By MARK SCHILLING

TOKYO -- Hiroshi Inoue, prexy of Tokyo Broadcasting System, said Wednesday that he and 11 other TBS execs will take pay cuts ranging from 10%-15% in response to the network's recent plunge in spot ad revenues.

The cuts will be in effect from this month until next June.

The TV Asahi and TV Tokyo networks have already instituted similar cuts for their top execs for the same reason -- dismal ad sales as Japanese companies move their advertising to the Internet or scale back spending in reaction to soaring oil and commodity prices.