The Murdochs did such a good job selling asset to the The Walt Disney Co., that the three members of the family in top executive positions at 21st Century Fox got big stock awards and bonuses.
Total compensation in the fiscal year ended June 2018 for CEO James Murdoch and chairman Lachlan Murdoch more than doubled to more than $50 million a piece, according to documents filed with the SEC.
Lachlan Murdoch received a salary of $3 million, unchanged from the prior year, plus a stock award of $36.7 million, up from 8.5 million, incentive plan pay of $10 million, up from $8 million, and other benefits that brought total compensation to $50.7 million, up from $20.6 million a year ago.
James Murdoch’s total compensation also jumped to $40.3 million from $20.3 million. He also drew a $3 million salary and received stock awards of $36.7 million and pay from the non-equity incentive plan of $10 million.
Rupert Murdoch, executive chairman, had total compensation of $49.2 million, up from $29.3 million. To his $7 million salary was added a $23.3 million stock award and incentive plan pay of $13.1 million.
In the proxy, Fox said pay for its CEO and co-chairman was raised because of the Disney deal, which raised Fox's stock price. They received retention payments and their performance units were paid at their target levels. Without those items., they would have received about $23 million in compensation.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.