Salaries for senior executives at Fox Corporation declined in the company’s most recent fiscal year as the owner of Fox News Channel and the Fox broadcast network reduced compensation packages as part of dealing with conditions spurred by the coronavirus pandemic.
Lachlan Murdoch, CEO of Fox and executive chairman, saw his total compensation fall to $27.7 million in fiscal 2021, compared with $29.2 million in the previous fiscal year, marking a decrease of approximately 5%. Rupert Murdoch, the company’s executive chairman and the CEO’s father, saw his total compensation dip to $31.1 million, compared with $34 million in the previous fiscal year, representing a drop of approximately 8.4%.
The pay packages were detailed Friday in proxy filings with the U.S. Securities and Exchange Commission.
John Nallen, the company’s chief operating officer, saw his total compensation fall to $12.5 million from $13.1 million in the previous fiscal year.
Top executives at Fox had agreed to cut their base salaries during the pandemic. Fox said the decision “reduced their aggregate total target compensation by 9%.”