Murdoch's Pay to Rise 15% After News Corp. SplitCEO gets increase in long-term incentives 4/26/2013 08:33:37 AM Eastern
News Corp. said that if its proposed split into two companies
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 $7.1 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.
21st 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.