No belt-tightening for Murdoch just yet


News Corp. chairman and CEO Rupert Murdoch saw his overall compensation for the latest fiscal year fall 14% from the previous year.

According to a regulatory filing made late Tuesday, Murdoch's total compensation amounted to $27.5 million. His base salary remained unchanged at $8.1 million, while his nonequity incentive compensation based on News Corp.'s earnings-per-share growth edged up $1.7 million to $17.5 million. However, his overall pay slipped because of an accounting change that eroded the value of his retirement savings.

News Corp. president and COO Peter Chernin saw his total compensation slide from $34 million to $28.8 million, including an unchanged base salary of $8.1 million and an $850,000 gain in his incentive pay to $11.3 million.

Murdoch's son James, who has been elevated to chairman and CEO, Europe and Asia, earned $11 million overall in the latest fiscal year. That included a base salary of $1.9 million, a $1.4 million bonus and $3.6 million in incentive pay driven by earnings-per-share growth, among other things.

News Corp.'s earnings kept growing in its latest fiscal year, while its shares have been on a slide amid a weak market for media and entertainment stocks. (partialdiff)