 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.
WNET, the nation’s largest public media company, names Edward O’Keefe its next president and CEO, effective September 21. O’Keefe succeeds Neal Shapiro, who becomes president emeritus and will retire at the end of the year... The Stealth Bot Prohibition Act, which would empower news publishers and other content providers to defend themselves by mandating transparency for all bots crawling their sites, in introduced in the House by Rep. Laurel Lee (R-FL) and Rep. Valerie Foushee (D-NC)... Google gets socked by European Union regulators with a $1 billion fine for using the platform’s dominance as a search engine to illegally undercut competition.
Boston Globe Media acquires InstaTrac, a company that provides subscription-based services aimed at making government information easier to find, track, and understand... AARP names former New Republic CEO and publisher Michael Caruso as its SVP and chief content officer, unifying the organization's portfolio of media, live events and digital platforms... The Fund for American Studies, an educational nonprofit, awards its inaugural Journalism Excellence Fellowships.
Trump Media and Technology Group Corp. has replaced CEO and former California Congressman Devin Nunes with Kevin McGurn, a seasoned media sales executive.
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.
