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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.
Fox News Media issued a pretty sparse release to announce the departure of one of its stars. “Effective today, Maria Bartiromo is no longer with FOX News Media,” it reads.
Brunswick Group partner John Simons has joined CNN as senior director of business & media. He held top jobs at Time and the Wall Street Journal.
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.
