August 4, 2005
Murdoch's Son Could Receive $8 Million
By DOW JONES
http://www.nytimes.com/2005/08/04/business/media/04murdoch.html?pagewanted=print
WASHINGTON, Aug. 3 (Dow Jones) - The News Corporation said Wednesday that
Lachlan Murdoch, who announced his resignation last Friday as the company's
deputy chief operating officer, will receive a cash separation payment that
could exceed $8 million.
The payment will equal Mr. Murdoch's salary and bonus for the fiscal year
ended June 30. Mr. Murdoch is eligible for a bonus of up to $7 million, the
company disclosed in a filing with the Securities and Exchange Commission,
and his salary in recent years has exceeded $1 million.
Mr. Murdoch's salary for the most recent fiscal year was not provided in
the filing and company representatives were not immediately available. For
fiscal 2004, Mr. Murdoch received a salary of $1.8 million and a bonus of
$2 million, up from $1.4 million in salary and a $1.2 million bonus the
previous year.
The News Corporation also said that Mr. Murdoch, the son of the company's
chairman and chief executive, Rupert Murdoch, agreed to become a consultant
and remain a director, and that he would provide advice and consultation to
the company for two years beginning on Aug. 31, the date of his resignation.
================================
George Antunes, Political Science Dept
University of Houston; Houston, TX 77204
Voice: 713-743-3923 Fax: 713-743-3927
antunes at uh dot edu
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