36% bonus

It's interesting that the writers of Channel 4's annual report still use Newsnight as some sort of lodestar - it gets six mentions. Here's one:

"In 2018, an average of 7.4 million watched Channel 4 News for at least 15 consecutive minutes each
month. This figure was down by 9% year-on-year. In terms of share of TV viewing, Channel 4
News’ performance also fell in 2018, by 8%.

These declines follow four years of relative stability, when annual fluctuations in reach were small, and share of TV viewing rose each year. A number of factors contributed to the declines this year. First, overall reach to the main channel was down, resulting in fewer viewers watching Channel 4 overall. Second, there was increased competition in the 7-8pm weekday slot from the other PSBs, both in general (increased viewing to the soaps) and in News specifically (the launch of Beyond 100 Days on BBC Four has proved successful). Third, Brexit fatigue has disproportionately affected viewing to the main two in-depth news review programmes, Channel 4 News and the BBC’s Newsnight (whose share fell by 7%). And fourth, news continues to be consumed increasingly on digital and social media."

We also note that Director of Programmes Ian Katz got £506k in value over his first year: salary £350k, taxable benefits £1k, variable pay (code for 'bonus') £125k (36% of salary), pension contribution £30k. His salary has already gone up to £362,100 from April.