Rupert Murdoch's News Corp Pay Drops 42 Percent to $5.1 Million
The media mogul's compensation fell from $8.7 million in the previous year.
Rupert Murdoch's compensation for his role as executive chairman of News Corp amounted to $5.07 million for the fiscal year that ended in June, according to a regulatory filing on Tuesday.
That was down 41.7 percent from his total compensation of $8.70 million in the year before, driven by lower stock awards.
Murdoch's salary was unchanged at $1 million, but the value of his stock awards fell nearly 60 percent from more than $5 million to less than $2.1 million. The media mogul's non-equity incentive pay dropped 25 percent to $2 million from nearly $2.7 million in the previous year.
News Corp CEO Robert Thomson's compensation amounted to $10.3 million, compared with $12.5 million in the previous year. The decline was also driven by a drop in stock awards.
Thomson's $2 million salary was unchanged, while his stock awards dropped 38 percent to $4.5 million, and his non-equity incentive compensation rose to $3 million from $2.7 million.
News Corp owns The Wall Street Journal and other financial news operations, book publisher HarperCollins and other businesses. Its stock fell nearly 20 percent during the latest fiscal year.
Tuesday's regulatory filing also said that at News Corp's annual meeting in New York in October, shareholders will vote on a stockholder proposal to end the company's practice of using two classes of stocks and instead give each share one vote.
Murdoch's pay for his work at 21st Century Fox will be disclosed at a later date. News Corp and Fox split in 2013.