News Corp Reports Drop in Chairman, CEO's Pay

News Corp reported Tuesday that the total compensation for Executive Chairman Rupert Murdoch and Chief Executive Robert Thomson fell in the fiscal year ended in June because of a decline in stock awards.

News Corp owns The Wall Street Journal and Dow Jones Newswires, among other publications.

In a filing Tuesday with the Securities and Exchange Commission, the company said Mr. Murdoch's total compensation was valued at $5.07 million for the business year ended in June, down from $8.7 million a year earlier.

Mr. Murdoch's base salary was unchanged at $1 million, while his stock award declined 59% to $2.07 million and his non-equity incentive fell 25% to $2 million.

As for Mr. Thomson, his total pay was valued at $10.29 million in the most recent fiscal year, down from $12.47 million a year ago.

Mr. Thomson received a $2 million base salary, also flat from 2014, but his stock award fell 38% to $4.45 million. The CEO's non-equity incentive compensation rose to $3 million from $2.68 million a year earlier, while the value of his pension increased to $475,466 from $314,434.

Over the 2015 business year, Class A shares of News Corp dropped 19%.

The company swung to a loss of $149 million from a year-earlier profit of $237 million. The latest results included, among other items, an impairment charge of $371 million related to Amplify, the company's digital education business. Revenue increased to $8.63 billion from $8.57 billion.

More than two years ago, Mr. Murdoch split his media holdings, with the publishing assets going to News Corp and the media and entertainment assets housed in 21st Century Fox Inc.

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(END) Dow Jones Newswires

September 01, 2015 10:45 ET (14:45 GMT)

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