UPDATE: The 79-year-old News Corp chairman’s basic salary remains unchanged at $8.1 million, according to the latest filing with the Securities and Exchange Commission for fiscal year 2010 ending June 30th. But his performance-related bonus fell 20% to $4.4 million. Murdoch’s stock and share options last year stayed the same at $4.1 million. And, sure, there was $275,117 worth of personal use of the News Corp corporate jet. Murdoch received total compensation valued at $22.7 million for the fiscal year 2010. Murdoch still controls 317 million Class B voting shares and 8.8 million Class A non-voting shares in News Corp; together that’s worth $4.58 billion as of yesterday.
James Murdoch’s total remuneration remained flat at $10.3 million, excluding his $115,000 annual salary as executive chairman of Sky Television.
But both Murdochs’ pay is eclipsed by that of News Corp’s No. 2 Chase Carey, who earned $26 million last year because of a $10 million signing bonus (he joined the company from DirecTV last July) and a guaranteed $5 million bonus tied to the company’s earnings per share. His $8.1 million salary was the same as Murdoch’s. But in the current fiscal year, Carey’s salary is being halved to $4.05 million, but his target cash bonus will be $10 million to $20 million, and he will receive performance stock units targeted to be worth $10 million, with their value increasing with the value of the shares.
Roger Ailes, president of Fox News Channel and chairman of the Fox Television Stations Group, saw his total package fall by 37% to $14 million year on year. Back in 2009 Ailes earned $22.2 million.
The SEC paperwork also reveals that News Corp keeps paying many other members of the Murdoch family as well. Murdoch’s current wife Wendi, in exchange for advising News Corp’s MySpace China, earned $92,000 in consulting fees last year and received options on more than 2.5% of shares in the website. Eldest son Lachlan Murdoch, 38, earned $1.8 million for sitting on the board. Daughter Elizabeth Murdoch’s Shine Group earned $11.9 million in production and distribution fees, while her husband Matthew Freud’s PR company Freud Communications earned $350,000 in fees.