Murdochs and other Fox Corp. executives cut pay amid coronavirus shutdown [Los Angeles Times (CA)]
Fox Corporation - Class B (FOX)
Last fox corporation - class b earnings: 5/10 04:03 pm
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Source: Los Angeles Times
Fox Corporation has become the latest media company to slash salaries as the coronavirus has decimated the advertising marketplace. In a memo to employees issued Wednesday, Fox Corp. Executive Chairman Lachlan Murdoch said he and his father Rupert will forgo their salaries through Sept. 30, along with the company’s chief operating officer, John Nallen; chief legal and policy officer, Viet Dinh; and chief policy officer, Steve Tomsic. The Murdochs’ direct reports, which include Fox News Media Chief Executive Suzanne Scott , will take a 50% pay reduction over the same period. Executives at the vice president level or higher will see their salaries reduced 15% from May 1 through July 31. The reductions will impact around 700 employees at the company, which includes its network TV operation, television stations, sports division and Fox News Media. Compensation increases have also been suspended. Lachlan Murdoch also said the company is extending its work-from-home policy — which includes
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