Murdoch son highest paid U.K. CEO

Goal of adding more subs sees success

Blighty satcaster BSkyB’s topper James Murdoch is the highest paid CEO in British broadcasting, earning £2.23 million ($3.9 million) last year.

That figure includes a basic salary of $1.3 million, a bonus of $2.1 million, benefits worth $381,392 and a pension contribution of $105,600, according to the satcaster’s annual report, published Thursday.

Last year, he also received 450,000 shares worth $4.2 million that can be sold in 2007 if BSkyB outperforms the FTSE 100 index of Britain’s biggest businesses.

Unlike his predecessor, Tony Ball, who ankled following a clash over strategy with BSkyB chairman Rupert Murdoch, James Murdoch does not get a guaranteed bonus. His $2.1 million bonus is 80% of the potential $2.6 million maximum set by his contract.

After a shaky start, Murdoch’s goal of adding more subscribers, rather than extracting more coin from existing ones, appears to be working.

BSkyB is on target to have 8 million subscribers by the end of the year but next year will face new competition from newly merged cable giant NTL plus Freesat, a new free-to-air satellite venture owned by the BBC and ITV.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Scene News from Variety