News Corp cuts Murdoch's 2012 bonus, citing scandal

[dipsydoodle]

Source: Reuters

(Reuters) - News Corp has cut this year's bonuses for four top executives, including mogul Rupert Murdoch and his son James, after a phone-hacking scandal at the now-shuttered British newspaper The News of the World, a regulatory filing showed.

News Corp's compensation committee said in a filing on Tuesday with the U.S. Securities and Exchange Commission that it "determined to award only half of the qualitative portion of the annual bonuses" to four top executives in fiscal year 2012.

The committee said it took into account the fallout from the hacking scandal, which has so far included litigation and settlement expenses, the closure of The News of the World and the withdrawal of its proposal to buy BSkyB.

As a result, Murdoch, the company's 81-year old chairman and chief executive, earned a bonus of $10.4 million in fiscal year 2012, which ended on June 30, the filing said.

Read more: http://uk.reuters.com/article/2012/09/06/uk-newscorp-murdoch-bonus-idUKBRE88502X20120906

[Swagman]

1. I think however they may have raised his wage to $33M

[Bossy Monkey]

2. Oh DARN it! Just $10 million? Where do I send my contribution?

(Sarcasm tag isn't really necessary, is it?)

[beac]

3. In a just world, Murdoch would die alone and afraid in prison.

I'll settle for worldwide humiliation... for now.

[cstanleytech]

4. I'd settle for the entire news corp empire forcibly broken up into itty bitty little pieces. nt

[aquart]

6. And I'll cling to the fantasy of alone and afraid in prison.

In fact, in my fantasy Murdoch has Nixon's old cell and W is his bunkmate.

[Guy Whitey Corngood]

7. And Roger Ailes is in the next cell ripping nasty Jabba The Hutt

farts all night long.

[cstanleytech]

8. And I didnt say you had to give it up just that

I just personally would settle for the entire empire to be broken up.
The way I look at it is at this point Murdoch is an old man and while imprisoning might be part of the justice he deserves it would still only be part of it and it would leave News Corp still intact and in the hands of people who share the same low ideals he himself has but if you break it up and destroy it? Thats far more satisfying imo and it would probably hurt him more than any time in jail ever would.
After all right now hes doing everything he can to keep it as intact and under his control as possible.

[Stuart G]

5. Obscene...nt

[sarcasmo]

9. I can only buy one car elevator with that bonus.