News Corp. CEO Rupert Murdoch will receive a 15 percent rise in 2014 total targeted compensation to $28.3M when the media combine splits into Twenty-First Century Fox Inc. (entertainment) and new News Corp. (newspaper/educational group).

As chairman/CEO of Fox, the 81-year-old will receive a $7.1M salary, $10.5M target bonus and $5.7M long-term incentives.

In the executive chairman capacity at new News Corp., Rupert will earn a $1M salary, $2M bonus and $2M in long-term incentives.

According to News Corp.'s Securities and Exchange Commission filing of April 25, the compensation of the board determined Murdoch’s package is "competitive and appropriate" due to his responsibilities associated with two separate companies.

The committee maintains the 15 percent growth in potential comp is entirely allocated to Murdoch's "performance-based, long-term incentive opportunity, which will further align" his interests with the interests of stockholders.