Rupert Murdoch's News Corp Pay Rises to $5.7 Million
The media company discloses the annual compensation for the mogul and CEO Robert Thomson.
Rupert Murdoch's compensation for his role as executive chairman of News Corp amounted to $5.7 million for the fiscal year that ended in June, compared with $5.3 million a year earlier, according to a regulatory filing on Tuesday.
News Corp CEO Robert Thomson's compensation amounted to $13.6 million, compared with $11.3 million in the previous year, according to the filing.
That included a stock award, which he was granted in the fiscal year and which has a target amount of $6.7 million. But that award will not be paid out until fiscal year 2019 and may not reach the full amount, depending on the company's performance. Adjusting his compensation for that, Thomson actually received $8 million in the latest fiscal year, compared with $9.2 million in the year before.
News Corp owns The Wall Street Journal and other financial news operations, U.K. newspapers like The Times and The Sun, book publisher HarperCollins and other businesses.
News Corp recently reported a loss from continuing operations of $643 million for its latest fiscal year, driven by pre-tax, non-cash impairment charges of approximately $785 million, primarily related to the write-down of fixed assets at the U.K. and Australian newspapers, compared with a profit from continuing operations of $235 million in the prior year.
The company's full-year segment earnings before interest, tax, depreciation and amortization rose 29 percent to $885 million.
Murdoch's salary fell slightly to $1 million while his stock awards were higher at $2.7 million. His compensation related to a non-equity incentive plan was slightly down at $2 million.
Thomson's salary also dipped slightly to $2 million, but his stock awards and non-equity incentive plan were both higher.
Susan Panuccio, who became CFO in February, earned $3 million, while former CFO Bedi Ajay Singh was paid $4.7 million, down from $5 million a year earlier.
David Pitofsky, the general counsel, earned $2.9 million, up from $2.7 million.
Murdoch is also executive co-chairman at 21st Century Fox, where he was paid $29.3 million in the latest fiscal year.