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News Corp.’s Murdoch, Chernin Get Raises for 2004

Sep 20, 2004  •  Post A Comment

Rupert Murdoch received 22 percent more in compensation for the 2004 fiscal year than he did a year ago, according to News Corp.’s annual report issued last week. The media giant’s chairman and CEO earned $4.5 million in salary, a $12.5 million bonus and $145,000 in other income for a total of $17.15 million for the 12 months ended June 30. A year earlier, Mr. Murdoch made nearly $14.1 million, including $4.5 million in salary, a $7.5 million bonus and nearly $2.1 million in other income. President and Chief Operating Officer Peter Chernin, meanwhile, earned $17.6 million during the same period, up from nearly $16.8 million a year ago. Roger Ailes, CEO of Fox News Channel, was paid $7.1 million for the fiscal year, down from nearly $8.6 million a year ago. Those figures came as News Corp. moved a step closer to becoming a United States-based company last week when the Australian Federal Court approved the media giant’s plan to take its reincorporation plans to its Australian shareholders. The company plans to hold a meeting on the proposal after its annual shareholders meeting Oct. 26 in Adelaide, Australia.