Fox Execs Take Pay Cuts

Murdochs, Carey All See Comp Shrink in Fiscal 2015

Top 21st Century Fox executives saw their total compensation shrink in fiscal 2015, with chairman Rupert Murdoch dipping 4.5% and his son James weathering a 19.3% haircut, while top lieutenant, chief operating officer Chase Carey’s pay dipping 17.1%.

Rupert Murdoch’s total compensation was $27.9 million, down 4.5% from the $29.2 million he earned in fiscal 2014. James Murdoch, who received a big vote of confidence from his dad earlier in the year when he handed over the CEO reins to him in July, received $15.1 million in total comp, down from $18.7 in fiscal 2014. The difference for both men was in stock awards – Rupert Murdoch received $5.1 million in stock awards in fiscal 2015 compared to $6.3 million in the prior year. James received $5.4 million in stock awards in fiscal 2015, down from $6.6 million in fiscal 2014.

For Carey, who became executive vice chairman in July, fewer stock awards ($9 million vs. $11.1 million in fiscal 2014) helped drive down his total compensation to $23.2 million from $27.98 million in the prior year.

Senior executive vice president and chief financial officer John Nallen also took a hit, with his pay dipping 14.6% from $9.6 million to $8.2 million, mainly because of a lower stock award ($2.7 million vs. $3.1 million in the prior year). The only top executive to get a raise was senior executive vice president and general counsel Gerson Zweifach, who received a 48.3% increase to $8.6 million from $5.8 million in the prior year, primarily due to a larger stock award ($2.3 million vs. $276,352 in fiscal 2014).