Media mega-boss Rupert Murdoch will earn almost $4 million more per year when News Corporation splits into two separate companies, according to Fairfax Media.
His pay will rise by nearly $US4 million to $US28.3 million, a 15 per cent increase after a parting of News Corporation’s publishing and film and television assets scheduled for June.
While his base salary will stay at $US20.6 million, according to Fairfax his long-term incentives will jump from $US4 million to $US7.7 million.
The company told the United States Securities Exchange Commission the pay bump was in line with the extra work he will need to do, running two public companies. After the spit, he will be chief executive of 21st Century Fox and executive chairman of new News Corp.
Once News Corp is split the film and television division will keep the 21st Century Fox name, and the publishing side will be called new News Corp.
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