News Corp, the media company whose stock fell 29 per cent in fiscal 2008, reported compensation of $27.5 million for Chairman Rupert Murdoch during the period.
Murdoch's compensation for the year ended June 30 was 14 per cent lower than in 2007, New York-based News Corp said in a regulatory filing today. The base salary was $8.1 million. News Corp allocated $17.5 million in cash bonuses to Murdoch, and also reported stock awards and other compensation.
News Corp shares fell the most since April 2003 on Aug 6 after analysts cut profit estimates, citing weak local television and newspaper advertising sales. Fourth-quarter profit, reported a day earlier, beat analysts' estimates.
News Corp reported total compensation of $28.8 million for President and Chief Operating Officer Peter Chernin, 15 per cent lower than the previous year, according to the filing.
Murdoch bought more than 117,000 shares of News Corp on Aug 15, while Chernin purchased more than 334,000 shares that day, according to the Washington Service.
News Corp. Class A shares fell 25 cents, or 1.8 per cent, to $13.45 at 4:15 pm in New York Stock Exchange composite trading. They are down 34 per cent this year.
