Murdoch’s Pay to Rise 15% after News Corp. SplitCEO Gets Increase in Long-Term Incentives 4/26/2013 5:03 AM Eastern
News Corp. said that if its proposed split into two company goes through, the target for Rupert Murdoch’s total compensation will increase by 15% to $28.3 million in fiscal 2014 .
Murdoch will be paid $8.1 million in salary as CEO of the new TV and movie company 21st Century Fox.
Murdoch will also be paid a salary of $1 million as executive chairman of the new News Corp., which will own the company’s publishing assets and television businesses in Australia. His current salary is $8.1 million, so essentially his salary will be unchanged.
The mogul will be eligible for bonuses and performance-based long-term equity awards at both companies.
At 21th Century Fox, the target for his bonus has been reduced to $10.5 million from $12.5 million, and the long-term incentive targets have been raised $5.7 million from $4 million At the same time, he will be getting a bonus targeted at $2 million from the new News Corp. and a long-term equity award targeted at $2 million.