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| Rupert Murdoch |
Fox Corp. chairman Rupert Murdoch, 90, suffered an 8.4 percent drop to $31.1M in total compensation for fiscal `21.
Son & CEO Lachlan Murdoch, 50, took a 5.1 percent hit to $27.6M.
Both took part in Fox’s “voluntary base salary reduction plan” put into place to deal with the COVID-19 pandemic.
The Murdochs agreed to forgo their base salaries from May 1 until Sept. 30.
They signed agreements acknowledging that the cuts would not be a breach of the employment arrangements, trigger severance or amend or modify the employment pact, according to Fox’s proxy statement for broadcaster’s Nov 10 annual meeting.
COO John Nallen, who earned $12.5M; chief legal & policy officer Viet Dinh ($12.4M); and CFO Steven Tomsic ($7.4M), also participated in the salary reduction plan.
Other key executives reporting to Lachlan took 50 pay cuts from May 1 to Sept. 30.
Vice presidents received 15 percent pay cuts from May 1 through July 31.
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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. 
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