Murdoch feels the pinch

Rupert Murdoch will have to admonish himself after it was revealed that his performance-related bonus dropped 20 per cent year-on-year.

It means News Corporation’s head honcho saw his annual take-home pay drop by six per cent overall to $16.8m, or £10.9m.

It’s the Australian tycoon’s lowest salary since 2003 as his media empire tackled a global decline in advertising revenues. His basic pay remained $8.1m but he only rewarded himself $4.4m in bonuses. He also got stock and share options worth $4.05m. His son, James Murdoch, who heads News Corp’s European and Asian operations, saw his earnings slide 13 per cent to $8.84m.

The biggest pay packet went to chief operating officer Chase Cherry, who received $23.1m, including a $10m bonus on his recruitment from rival DirecTV.

Rupert Murdoch also paid his wife, Wendi, $92,000 for providing strategic advice in China to the wavering MySpace website.

Despite the pay cuts, News Corp actually made profits of $2.5bn for the year to June, boosted by the record-breaking performance of James Cameron’s Avatar, released by Twentieth Century Fox.

This article appears in issue 250 of Media Digest.

(Source: MediaGuardian)




“Before we all sink into a slough of digital dystopian despair, it might be worth considering this: is this a sign of the strength, not weakness, of revelatory journalism in the digital age?”

Charlie Beckett, director of POLIS at the London School of Economics, reacts to news that the UK government forced the Guardian into destroying hard drives that contained information leaked by Edward Snowden.

(Source: POLIS)


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