Murdoch jnr picks up £1.2m bonus from BSkyB

gameboy

gameboy

Ding Dang Doo
Messages
4,305
Likes
5
My Satellite Setup
DreamBox 7000s - Nokia Freeview - Several GameBoys - DS Lite - ZX81 - SNES - N64 - Saturn - Dreamcast - PlayStation - PS2 - Gamecube - PSP - iPod - iPhone - XBox - PS3 - Wii - iPad - No Life!
My Location
Scotland
#1
BSKYB chief executive James Murdoch was awarded a £1.2 million bonus for his first full year at the pay TV giant - just shy of the maximum possible pay-out of £1.5m.

The 32-year-old, the youngest leader of a FTSE 100 company, pocketed a total of £2.22m for the year - including salary, bonuses and pension contributions. His basic salary was £750,000, with an added bonus of between £1m and £1.5m to be awarded if "performance targets are met".

The total sum was 32 per cent higher than the £1.48m he earned the previous year, although that was for just seven months work. On a monthly basis, he made more in 2003-4 than in the last financial year - £211,000 compared with £185,000.

Murdoch is the son of BSkyB chairman Rupert - the media mogul and founder of Newscorp. He was tipped as the most likely successor to the overall empire - which includes the Sun and 20th Century Fox - following the resignation of elder brother Lachlan earlier in the year.

He was appointed to the top job at Sky amid allegations of nepotism in November 2003. The group has since seen a sharp rise in subscribers, but the shares have fallen from 775p in February 2004 to last night's close of 540.5p - around 30 per cent.

Details of Murdoch's pay are revealed in BSkyB's annual report, published on the group's website yesterday. Rupert - a multi-billionaire - saw his wage fall from £48,000 to £45,000.

Source: Scotsman
 
M

Marts

Regular Member
Messages
638
Likes
0
My Satellite Setup
90 cm dish + two LNB 13/19 E
90 cm dish + one LNB 30 W
Humax 5400 .. Oh and cable for Mrs Marts (smilie here)
My Location
Gozo - Malta
#2
What does nepotism mean ?
 
Topper

Topper

Amo Amas Amant Admin
Staff member
Messages
21,908
Likes
3,345
My Satellite Setup
IDD CI24 ECONO MM Penta 1.20 Galaxy II
1.2Mtr Polar MTG yes it has been on the arc for 25 years and is now fixed on 13 East using two pairs of rusty molegrips. Unlike me they never groan but always perform.
My Location
Blackburn, Lancashire
#3
The practice of giving promotions, basic employment, higher earnings, and other benefits to employees who are relatives of management.
 
rolfw

rolfw

Believe it when I see it Admin.
Staff member
Messages
37,726
Likes
1,291
My Satellite Setup
Technomate 5402 HD M2 Ci, DM7000s, Transparent 80cm Dish, Moteck SG2100 DiseqC motor, lots of legacy gear. Meters: Satlook Digital NIT, Promax HD Ranger+ spectrum analyser.
My Location
Berkshire
#4
Marts said:
What does nepotism mean ?
Sorry mate, would tell you, but want to keep it in the family. :D
 
gameboy

gameboy

Ding Dang Doo
Messages
4,305
Likes
5
My Satellite Setup
DreamBox 7000s - Nokia Freeview - Several GameBoys - DS Lite - ZX81 - SNES - N64 - Saturn - Dreamcast - PlayStation - PS2 - Gamecube - PSP - iPod - iPhone - XBox - PS3 - Wii - iPad - No Life!
My Location
Scotland
#5
Hermes, one of Britain's most influential fund managers, has written to BSkyB saying that it will vote against the company's request for a controversial exemption from takeover rules, writes the Sunday Telegraph.

The exemption would allow Sky to buy its own shares without triggering a bid for the company by News Corporation, the media giant which owns about 37%of Sky and is controlled by Rupert Murdoch.

The fund manager says that it is taking a stand against Sky because it no longer trusts Rupert Murdoch, who chairs the TV company, the paper says.

Source: ShareCast

More...

BSkyB has warned shareholders they will miss out on a £490m windfall if they carry out their threat to vote against the company's resolutions at its annual meeting next month.

Some of the satellite broadcaster's largest shareholders want to take revenge on the company, run by James Murdoch, because of the actions taken by his father, Rupert, at News Corporation where they also own shares. News Corp in turn owns a 37.14 per cent stake in BSkyB.

On Friday it emerged that furious News Corp shareholders are to sue the company after Mr Murdoch Snr decided in August to extend a "poison pill" takeover defence for another two years without consulting investors. This was despite promising last year to improve shareholders' rights at the company in return for backing its relocation from Australia to the United States.

Source: The Independent
 
Top