by Christopher Freeburn | April 29, 2013 10:24 am
Breaking up News Corp. (NASDAQ:NWSA) could add to Rupert Murdoch’s personal bottom line.
According to documents filed with regulators last week, Murdoch’s total compensation could jump 15% after the company splits into two separate firms, but only if certain financial targets are met. Murdoch’s fortune is estimated at $11 billion, the Associated Press noted.
This year, Murdoch’s compensation is forecast to reach $24.6 million. That might rise to $28.3 million next year, based on potential stock grants after the company’s publishing unit separates from its TV and film business later this year.
Earlier this month, the company announced that its entertainment division would be renamed 21st Century Fox after the split. The newspaper publishing unit, which will include the Wall Street Journal and the New York Post, will keep the News Corp. name.
Murdoch will serve as chairman of both companies after the split. He will also be CEO at 21st Century Fox, and most of his annual compensation will be linked to that company’s performance in fiscal 2014.
Shares of News Corp. climbed modestly in Monday morning trading.
Source URL: https://investorplace.com/2013/04/ca-ching-rupert-murdoch-to-cash-in-on-news-corp-split/
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