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| Rupert Murdoch |
Fox Corp. slashed the 2020 compensation of chairman Rupert Murdoch and his executive chairman/CEO son, Lachlan, in the aftermath of the sale of its entertainment assets to Walt Disney Co. in March 2019.
Rupert took a 19.3 percent cut to $33.4M, while Lachlan suffered a 30.8 percent reduction to $29.2M, according to Fox's proxy statement for the Nov. 12 annual meeting set at the Zanuck Theatre at the Fox Studio Lot in Los Angeles.
The document hails 89-year-old Rupert as " the driving force behind the evolution of the Company from the single, family-owned Australian newspaper he took over in 1953 to the global public media and entertainment company that was 21rst Century Fox and that, through his vision and efforts, he most recently transformed into the focused news, sports and entertainment company that is FOX today."
The pay package of Lachlan, 49, stacks up against the total $81,301 compensation of the median Fox employee, a 359 to 1 ratio.
Fox's fiscal 2020 (ended June) revenues jumped eight percent to $12.3B. Net income plummeted 37.3 percent to $999M.
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Conservative outlets Fox News, Newsmax and the Daily Caller are holding back from signing Pete Hegseth’s edict restricting press access in the Pentagon... CBS News sees the first executive departure of the Bari Weiss era as head of standards and practices Claudia Milne exits... Indiana University shuts down the print version of The Indiana Daily Student.
Rothschild family plans to unload 26.7 percent stake in The Economist... STAT, a digital media company that focuses the life sciences, brings back Damian Garde, who anchored its biotech newsletter and podcast from 2016 to 2024... High Times officially resumes print publication (following its 2024 shutdown) with the release of a limited-edition, collectible 50th anniversary issue. 
CBS News is set to hand over its reins to The Free Press co-founder Bari Weiss as Paramount acquires her site for $155M... C-SPAN comes on board as an official media partner of the U.S. Semiquincentennial Commission, which is charged by Congress to lead the celebration of the 250th anniversary of the signing of the Declaration of Independence... A new Gallup survey says that the level of trust that US audiences have in the media has hit a new low.
Paramount Skydance CEO David Ellison has named Kenneth Weinstein, former head of the conservative Hudson Institute, as ombudsman for CBS News.
