Twenty-First Century Fox CEO Rupert Murdoch took a 4.6 cut to $28.9M fiscal 2013 salary/bonus compensation, according to its proxy statement filed today for the Oct. 18 annual meeting.
The pay figure reflects Murdoch's duties as chief of the pre-split News Corp.
The compensation committee, which is chaired by Accel Partners venture capital firm partner Jim Breyer, praised Murdoch’s leadership that resulted in a 46 percent stock price rise, a smooth corporate separation into newspaper and entertainment entities, and completion of strategic acquisitions.
It determined that during the current fiscal year, Murdoch is to receive a $1M base salary from News Corp., where he serves as executive chairman.
The print media group, which includes the Wall Street Journal, Times of London, New York Post and Sun, has set a $2M performance-based bonus and a $2M long-term equity-based target for the 82-year-old Murdoch this year.
At 21CF, the committee reduced Murdoch's 2014 base from $8.1M to $7.1M, cut annual bonus opportunity from $12.5M to $10.5M and upped long-term incentives target from $4M to $5.7M.
COO Chase Carey received an 8.9 percent rise in total comp to $27M during the past year.
The committee credited Carey for "content monetization initiatives," expansion of international cable franchises via acquisition of Indian cricket rights and full ownership of Fox Sports Asia, successful contract agreements with Major League Baseball and NASCAR and the launch of Fox Sports 1.
James Murdoch, deputy CEO, got a 1.2 percent boost in comp to $17M.
The 40-year-old received kudos for exploring digital opportunities and contributing to the acquisition of the 49 percent stake in the YES Network.