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News Corp. CEO Rupert Murdoch's Compensation Rises 46.7% to $33.3 Million in Latest Fiscal Year

Rupert Murdoch
NewsCorp

UPDATED: His son James, the company's deputy COO, and president Chase Carey, as well as Fox News Channel boss Roger Ailes also saw increases, while a regulatory filing also disclosed the pay of Murdoch daughter Elisabeth and fees paid to her husband's PR agency.

NEW YORK - News Corp. chairman and CEO Rupert Murdoch's total compensation rose to $33.3 million in the conglomerate's latest fiscal year, up from $22.7 million in the previous year. The 46.7 percent increase, driven by a $12.5 million bonus after a year without a bonus and by stock awards that more than doubled, made him the highest-paid top executive at the conglomerate.

But his salary stayed unchanged at $8.1 million.

His son James Murdoch, who has been chairman and CEO, international and is now also deputy COO, saw his compensation jump 73.8 percent from $10.3 million in the previous fiscal year to $17.9 million in the latest fiscal, which ended June 30. While his salary went from $3.2 million to $3.0 million, his bonus jumped from $1.7 million to $6 million and his stock awards rose from nearly $1.6 million to $8.3 million.

Deputy chairman, president and COO Chase Carey saw his compensation rise 16.2 percent from $26.0 million, which had made him the previous fiscal year's highest paid News Corp. executive, to $30.2 million. He received $15.2 million in stock awards, which he didn't get in the previous year, but his bonus declined from $15 million to $10 million after a big signing bonus in the year-ago period to bring him back to the conglomerate. Carey's annual salary was lowered to $4.1 million in the latest fiscal year from $8.1 million in the previous fiscal.

News Corp. veteran Roger Ailes, chairman and CEO of Fox News Channel and Fox Business Network, as well as chairman of Fox Television Stations and Twentieth Television, received compensation of $15.6 million, up from nearly $14.0 million in the previous fiscal year. His compensation mainly rose due to a $1.5 million increase in his non-equity incentive pay plan, which the company also described as an earnings per share bonus.

The information was disclosed by News Corp. in its proxy filing with the SEC on Friday.

The SEC filing also showed that Elisabeth Murdoch, the mogul's daughter, receives a salary of $1.7 million per year for continuing to serve as chairman and CEO of TV production company Shine. The sale of Shine to News Corp. earlier this year made her approximately $214 million in cash, according to the filing. She is also entitled to "her proportionate share of amounts that are released from escrow" after the company put approximately $60 million aside in escrow to satisfy potential indemnification obligations, the filing said.

Since News Corp. subsidiaries had entered into various production and distribution arrangements with Shine, the conglomerate paid Shine approximately $4.1 million in the fiscal year ended June 30.

Friday's regulatory filing also shows that Freud Communications, which is controlled by Matthew Freud, who is married to Elisabeth Murdoch, once again provided "external support to the press and publicity activities" of News Corp. during the latest fiscal year, earning it fees of approximately $202,000.

Meanwhile, Wendi Murdoch, the mogul's wife, received options over 2.5% of the fully diluted shares of Myspace China where she has served as a director.

News Corp.'s proxy filing Friday also said that the conglomerate will at its annual shareholder meeting in LA in October hold a non-binding advisory vote on its executive compensation as required by the previously enacted Dodd-Frank Wall Street Reform and Consumer Protection Act.

Shareholders will also vote on whether they would prefer that the company conduct future advisory votes on executive compensation once every one, two or three years. News Corp. recommended a vote every year.

Other entertainment giants have also held the required advisory votes at their annual shareholder meetings this year.

Email: Georg.Szalai@thr.com

Twitter: @georgszalai