Murdoch turns down bonus over hacking scandal

James Murdoch, the boss of News Corporation's UK arm, has refused to accept a $6m (£3.7m) bonus in the wake of the phone hacking scandal.

The son of Rupert Murdoch was due to receive the bonus as part of a $17.9m (£11.1m) pay package for the year June 30, which was revealed in documents released yesterday.



But last night he said he would not accept the bonus "in light of the current controversy surrounding News of the World", which closed in the wake of the scandal.



He added: "While the financial and operating performance metrics on which the bonus decision was based are not associated with this matter, I feel that declining the bonus is the right thing to do.



"I will consult with the compensation committee in the future about whether any bonus may be appropriate at a later date."



James Murdoch is executive chairman of News International, News Corp's UK newspaper business, which owns The Sun and The Times, as well as deputy chief operating officer of News Corp.



Even without the bonus, his compensation will rise 16 per cent to $11.9m (£7.3m).



His father, News Corporation boss Rupert Murdoch, saw his total pay packet rise 47 per cent to $33.3m (£20.5m) in the past year, the documents released before its annual meeting next month showed.



The executive chairman's pay was boosted by a $12.5m (£7.7m) bonus for the year, which he has not offered to forego.



News Corp was caught up in a phone hacking scandal during the financial year, which led to the closure of the tabloid. However, it was not until July that the scandal escalated into a full blown crisis.



Later that month, both Rupert and James Murdoch were grilled by the Treasury Select Committee when the News Corp founder said it was the most humble day of his life.



The report said Rupert Murdoch deserved his bonus because he had led the company through the economic downturn and positioned it for growth.



James Murdoch had played an important part in developing the company's key businesses in investments in Europe, Asia and the Middle East, it added.



News Corp reported an 8 per cent rise in profits to $2.7bn (£1.7bn) in the year.



The document also says that Elisabeth Murdoch - Rupert's daughter - receives a salary worth $1.7m (£1m) a year. She also received £131 million after Shine, the TV production company she runs which makes MasterChef, was bought by News Corporation earlier this year.



Lachlan Murdoch, another of Rupert's sons, who is acting chief executive of Australian TV company Ten Network, was compensated to the tune of $504,000 (£310,800).

Start your day with The Independent, sign up for daily news emails
Have you tried new the Independent Digital Edition apps?
ebooks
ebooksAn introduction to the ground rules of British democracy
Voices
The male menopause: those affected can suffer hot flushes, night sweats, joint pain, low libido, depression and an increase in body fat, among other symptoms
voicesSo the male menopause is real, they say, but what would the Victorians, 'old' at 30, think of that, asks DJ Taylor
Arts and Entertainment
Anna Smaill’s debut novel, The Chimes, is a fusion of fantasy and romance
booksMan Booker Prize nominee Anna Smaill on the rise of Kiwi lit
Sport
Ji So-Yun scores the only goal of the game
sport
Arts and Entertainment
One of the Pyongyang posters, the slogan of which reads: ‘Let the exploits of the northern railway conductors shine!’
art
Life and Style
Linguine with mussels and fresh tomatoes
food + drink
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Media

Ashdown Group: Marketing Manager - Cambridge / London - £47,000

£40000 - £47000 per annum + bonus + benefits: Ashdown Group: Senior Marketing ...

Sauce Recruitment: Sales Executive - Consumer Exhibition - 12 month Fixed Term Con

£20000 - £22000 per annum + up to £22K + commission : Sauce Recruitment: The ...

Sauce Recruitment: Senior Sales Executive - Premium Food and Drink Events

£24000 - £26000 per annum + up to £26K + team commission: Sauce Recruitment: H...

Sauce Recruitment: Financial Planning & Analysis Analyst (FP&A)- Entertainment

£30000 - £32000 per annum: Sauce Recruitment: A major film studio are looking ...

Day In a Page

Turkey-Kurdish conflict: Obama's deal with Ankara is a betrayal of Syrian Kurds and may not even weaken Isis

US betrayal of old ally brings limited reward

Since the accord, the Turks have only waged war on Kurds while no US bomber has used Incirlik airbase, says Patrick Cockburn
VIPs gather for opening of second Suez Canal - but doubts linger over security

'A gift from Egypt to the rest of the world'

VIPs gather for opening of second Suez Canal - but is it really needed?
Man Booker Prize 2015: Anna Smaill - How can I possibly be on the list with these writers I have idolised?

'How can I possibly be on the list with these writers I have idolised?'

Man Booker Prize nominee Anna Smaill on the rise of Kiwi lit
Art of the state: Pyongyang propaganda posters to be exhibited in China

Art of the state

Pyongyang propaganda posters to be exhibited in China
Jeremy Corbyn dresses abysmally. That's a great thing because it's genuine

Jeremy Corbyn dresses abysmally. That's a great thing because it's genuine

Fashion editor, Alexander Fury, applauds a man who clearly has more important things on his mind
The male menopause and intimations of mortality

Aches, pains and an inkling of mortality

So the male menopause is real, they say, but what would the Victorians, 'old' at 30, think of that, asks DJ Taylor
Bill Granger recipes: Heading off on holiday? Try out our chef's seaside-inspired dishes...

Bill Granger's seaside-inspired recipes

These dishes are so easy to make, our chef is almost embarrassed to call them recipes
Blairites be warned, this could be the moment Labour turns into Syriza

Andrew Grice: Inside Westminster

Blairites be warned, this could be the moment Labour turns into Syriza
HMS Victory: The mystery of Britain's worst naval disaster is finally solved - 271 years later

The mystery of Britain's worst naval disaster is finally solved - 271 years later

Exclusive: David Keys reveals the research that finally explains why HMS Victory went down with the loss of 1,100 lives
Survivors of the Nagasaki atomic bomb attack: Japan must not abandon its post-war pacifism

'I saw people so injured you couldn't tell if they were dead or alive'

Nagasaki survivors on why Japan must not abandon its post-war pacifism
Jon Stewart: The voice of Democrats who felt Obama had failed to deliver on his 'Yes We Can' slogan, and the voter he tried hardest to keep onside

The voter Obama tried hardest to keep onside

Outgoing The Daily Show host, Jon Stewart, became the voice of Democrats who felt the President had failed to deliver on his ‘Yes We Can’ slogan. Tim Walker charts the ups and downs of their 10-year relationship on screen
RuPaul interview: The drag star on being inspired by Bowie, never fitting in, and saying the first thing that comes into your head

RuPaul interview

The drag star on being inspired by Bowie, never fitting in, and saying the first thing that comes into your head
Secrets of comedy couples: What's it like when both you and your partner are stand-ups?

Secrets of comedy couples

What's it like when both you and your partner are stand-ups?
Satya Nadella: As Windows 10 is launched can he return Microsoft to its former glory?

Satya Nadella: The man to clean up for Windows?

While Microsoft's founders spend their billions, the once-invincible tech company's new boss is trying to save it
The best swimwear for men: From trunks to shorts, make a splash this summer

The best swimwear for men

From trunks to shorts, make a splash this summer