The salaries of the top executives at 21st Century Fox rose significantly for 2016, the company disclosed in a Securities and Exchange filing Friday morning, reflecting continued top performance at Fox News Channel and the Twentieth Century Fox TV production studio along with turnaround efforts at Fox Broadcasting and an expansion of a relationship with National Geographic.
Total compensation for James Murdoch, the company’s chief executive, rose a whopping 74.8% to $26.4 million, compared with $15.1 million for the company’s fiscal year 2015. Lachlan Murdoch, the company’s co-executive chairman, saw total compensation come to $23.7 million, but his pay in the earlier year was not disclosed because he was not an executive officer at that time.
Total compensation for Rupert Murdoch, co-executive chairman came to $34.6 million, compared with $27.9 million in fiscal 2015, marking a 24% increase.
Total compensation for executive vice chairman Chase Carey came to $29.2 million. compared with $23.2 million for the year-earlier period, a rise of about 25.9%, while the total compensation for John Nallen, the company’s chief financial officer, came to $12.1 million, compared with $8.2 million, according to the filing, marking an increase of about 47.6%.
The executives’ compensation increase comes as the younger Murdochs take more of the lead at the company. While Rupert Murdoch’s influence continues, his two sons are believed to be taking a lead in certain matters, including the company’s decision late late year to expand its partnership with National Geographic and the recent ouster of Roger Ailes at Fox News Channel.
James Murdoch’s salary of $3 million was unchanged, the company said in the filing. His stock awards rose from $10.1 million from $5.4 million, while, his non-equity incentive plan compensation rose to $7.4 million from $5.6 million. Other compensation totaled $178,716, which included $104,500 for the personal use of company aircraft.Pension value rose to $5.6 million from $916,000. Lachlan Murdoch’s salary came to $3 million. Stock awards totaled $10.1 million, and non-equity incentive plan compensation came to $7.4 million. Change in pension value totaled $3 million. Other compensation totaled $114,321, including $64,671 for the personal use of company aircraft.
Rupert Murdoch’s salary remained $7.1 million, but his stock awards rose to $6.4 million from $5.1 million. The elder Murodch’s non-equity incentive plan payout was unchanged at nearly $9.8 million. Fox said he earned $11.1 million in “change in pension value and nonqualified deferred compensation earnings” at $11.1 million, compared with $5.7 million in the previous year. His other compensation totaled $178,394, including $106,240 for the personal use of company aircraft.