Murdoch on $30m after pay cut
Ian Burrell is Assistant Editor and Media Editor at The Independent, i paper and Independent on Sunday. He covers news from the whole media sector from television, press, radio and advertising to technology. His weekly column on the media appears every Monday in The Independent and i paper. He also writes on media, music and culture, including long-form pieces for The Independent’s Saturday magazine and the Independent on Sunday’s magazine, New Review. He is a regular presenter of BBC Radio 4’s What The Papers Say and a specialist commentator to Monocle 24 radio. He has contributed to most major broadcast outlets including BBC television and radio, CNN, Sky News, Al Jazeera and LBC. He has also written on media for GQ magazine. Ian has been reporting on the media industry for The Independent for more than a decade. Previously he was the newspaper’s Home Affairs Editor. He worked at The Sunday Times for five years, including as a member of the investigative Insight team, covering stories on political funding, industrial espionage and the arms industry. Previously he worked in ITV for London Weekend Television, on a weekly current affairs programme presented by Danny Baker. Ian trained at the Birmingham Post & Mail and was Regional Reporter of the Year in Press Gazette’s national awards.
Thursday 06 September 2012
Rupert Murdoch may have been feeling a little less humble yesterday after the announcement he received a pay package worth $30m (£18.9m) last year. After a traumatic time, the chairman and chief executive of News Corp made around 10 per cent less than the $33.3m he received in the previous 12 months.
But the pay cut was less than that to hit News Corp president Chase Carey, whose chances of succeeding Mr Murdoch at the head of the company have increased amid the travails of the world's most famous media family over the phone-hacking scandal. Mr Carey earned $24.8m in the 12 months to June, down from $30.2m the previous year. Elaine Chao, a former labour secretary in George W Bush's administration, will be promoted to the board along with the former president of Colombia, Alvaro Uribe.
Natalie Bancroft, a member of the family that formerly owned the Wall Street Journal, is currently the only woman on the 15-strong board, with Mr Murdoch's daughter, Elisabeth – who recently made outspoken comments about the company – having chosen not to take up her seat.
As part of the board changes before News Corp is split into two divisions, the former NI chairman Andrew Knight will be relinquishing his seat after 21 years. The move will be seen as a further marginalisation of News Corp's British newspaper business within the company's global media operation.
News Corp said Mr Uribe's arrival would "provide important insights into Latin America for our directors".
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