- According to an SEC filing on Wednesday spotted by The Wrap, the Murdoch family – Rupert and sons James and Lachlan – will receive over $US206 million ($AU266.7 million) once the Disney-Fox deal is finalised.
- The amount will come via a golden parachute, compensation an executive receives after being dismissed from the company after a merger.
- 21st Century Fox CEO James Murdoch will receive the most, $US70.6 million, and he and his brother Lachlan would receive an additional $US22 million in severance if fired before June 30.
- Disney announced in December it will buy 21st Century Fox’s film studio and many of its TV assets for $US52 billion.
The Murdoch family is about to get richer. According to a Wednesday SEC filing, which we spotted via The Wrap, the family of 21st Century Fox executives will be compensated, in total, over $US206 million once the massive Disney-Fox deal is finalised.
Disney announced in December it will buy 21st Century Fox’s film studio and much of its TV assets for $US52 billion.
That means three executive members of the Murdoch family will receive large golden parachutes – payment an executive receives should they be ousted after the company is sold – once the deal is complete and Disney takes over.
Fox CEO James Murdoch will receive the largest compensation of $US70.6 million. His brother Lachlan, co-executive chairman of Fox, will receive $US69.1 million. And their father, co-executive chairman and former CEO Rupert Murdoch, will receive $US66.7 million – $US40 million of which will be cash.
If James or Lachlan are fired before June 30, they will receive severence of $US22 million six months later.
More on the Disney-Fox deal:
- Disney will buy 21st Century Fox film and TV assets for $US52 billion
- How Disney-Fox deal will change Hollywood
- Disney CEO Bob Iger considered running for president until Disney-Fox deal
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