Rupert Murdoch took a 10% pay cut from News Corp. in fiscal 2012
Some members of the British Parliament questioned whether News Corp. Chief Executive Rupert Murdoch was fit to lead his sprawling media company in the aftermath of the continuing phone-hacking scandal in London. But News Corp. directors felt differently, bestowing Murdoch with a $30-million compensation package in the company’s 2012 fiscal year.
The amount, however, represented a cut of nearly 10%, or $3 million, from Murdoch’s fiscal 2011 compensation of $33.3 million, according to regulatory filings Tuesday.
The media baron’s 39-year-old son, James Murdoch, who stepped down from his role leading the company’s publishing division in Britain, received compensation of $16.8 million in fiscal 2012, which ended June 30. A year earlier, Murdoch returned his $6-million bonus during the controversy and accepted $11.9 million in compensation.
News Corp. changed its formula for calculating its stock-awards program, contributing to lower total compensation for several executives.
The company’s No. 2 executive, Chief Operating Officer Chase Carey, was paid $24.8 million in fiscal 2012. That represented a nearly 18% reduction from Carey’s previous year’s compensation of $30.15 million.
The company’s third-highest-paid executive was Fox News Channel Chairman Roger Ailes. He collected $21.1 million in compensation in fiscal 2012, a more than 30% increase over his fiscal 2011 package of $15.6 million.
Chief Financial Officer David F. DeVoe took home less. Last year, he received $10.8 million in compensation compared with $18.2 million in fiscal 2011.
Separately, the company said it has nominated former U.S. Labor Secretary Elaine L. Chao and former Colombian President Álvaro Uribe to join the board. The annual shareholders meeting will be Oct. 16 in Los Angeles.
