 Rupert Murdoch |
Fox Corp. sliced 88-year-old chairman Rupert Murdoch's total compensation package 14.3 percent to $42,156,115 during fiscal 2019.
Executive chairman/CEO Lachlan Murdoch, Rupert's son, took a 16.9 percent chop in compensation to $42,111,103.
Rupert's pay package included $165,178 in perquisites for items such as personal use of corporate aircraft ($85,490) and car ($21,684).
Lachlan chalked up $202,992 in perks, which included $175,282 for plane rides and $14,400 for car trips.
Fiscal 2019 was a transformative year for Fox. On March 19, Fox became a standalone company trading on the NASDAQ following the divestiture of the Hollywood studio assets to Walt Disney Co.
The company on Nov. 6 reported that revenues for its first full fiscal quarter (ended Sept. 30) jumped 5.7 percent to $2.7B though profit slipped 16.6 percent to $513M.
Fox's shareholder meeting is slated for Nov. 14 in Los Angeles.
The Pittsburgh Post-Gazette is being bought by the Venetoulis Institute for Local Journalism, a nonprofit that is the parent organization of the Baltimore Banner... The British Broadcasting Corporation is axing approximately 2,000 jobs, about 10 percent of its work force... Snap, the company behind Snapchat, is also succumbing to layoff fever, announcing plans to lay off 16 percent of its employees, about 1,000 people.
CBS News Radio will go off the air on May 22, part of the axe-swinging managerial plan put into play by CBS editor-in-chief Bari Weiss... The Economist, which was first published in 1843, is changing hands. Canadian billionaire Stephen Smith has agreed to acquire a 26.9 percent stake in the publication from Lady Lynn Forester de Rothschild, her family and family foundation... Nexstar Media Group says it has closed its acquisition of TEGNA, the broadcast, digital media and marketing services company that was formed in 2015, when the Gannett Company split into two publicly traded companies.
USA TODAY brings on Jamie Stockwell as VP of news, effective March 30. Stockwell was most recently deputy managing editor of news for the Washington Post... YouTube expands its likeness detection capabilities to a pilot group of government officials, journalists and political candidates... The AP Fund for Journalism adds 50 news organizations to its local news program, bringing the total number of participating newsrooms to 100. 
Versant Media Group, the NBCUniversal cable TV spin-off, today reported its first financial results as 2025 revenues dipped 5.3 percent to $6.7B and standalone EBITDA dropped 9.1 percent to $2.2B.
Trump Media & Technology Group is discussing a spin-off of the Truth Social platform following the expected closing of its $6B merger deal with TAE Technologies... Condé Nast sells off Them, the digital LGBTQ-focused platform it launched in 2017, to Equalpride, publisher of Out, The Advocate, Out Traveler, Health PLUS Wellness and Pride.com... CBS News has parted ways with longevity influencer Peter Attia, one of the 19 contributors that editor-in-chief Bari Weiss brought on as part of her plan to present a wider variety of voices on the platform. 
