News Corp's Murdoch gets inflation-busting 42% pay hike
LONDON - Media mogul Rupert Murdoch earned more than $17m (£9m) in salary and bonuses for 2004, a rise of 42% over 2003, according to a statement filed by News Corporation.
Murdoch, chairman and chief executive of News Corp, also took home the sum of $211,322 in annual compensation beyond his regular salary, of which $159,086 was for his transport for "security reasons" -- namely the company aircraft.
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Murdoch, who is owner of The Times, The Sun and News of the World to name just a few of his global projects in broadcasting and publishing, is reported to be lining up son Lachlan to take over the News Corp empire when he retires.
Deputy chief operating officer Lachlan, received a salary of $1.8m and a bonus of $2m for 2004, compared with $1.4m in salary and a $1.2m bonus the previous year.
Murdoch Snr did not receive any stock rights last year, however Lachlan was given 187,500 shares.
In the company's annual report for 2004, it stated that full-year revenues rose 20% to $21bn and operating income increased 21% to $3bn.
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Murdoch: $17m salary last year
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