DMGT chairman Lord Rothermere's earnings reach £1.3m

LONDON - Lord Rothermere, chairman of Daily Mail & General Trust, almost doubled his total pay package to more than £1.3m in the year to 4 October, and was one of six company directors to receive more than £1m, according to the company's annual report

DMGT: chairman Lord Rothermere's earnings rose to £1.3m
DMGT: chairman Lord Rothermere's earnings rose to £1.3m

His total emoluments leapt from £705,000 in the year to 4 October 2008, to £1.32m for the same period, as he benefited from a £432,000 profit-related bonus. His basic salary was £688,000.

Rothemere has seen his newspaper empire, which includes the Daily Mail and the Metro, shrink this year after he presided over the sale of the London Evening Standard to Russian oligarch Alexander Lebedev. DMGT also closed its freesheet the LondonLite in the second half of this year.

Yet, despite the contraction of its newspaper empire, several of the group's directors received higher pay than in the year to 4 October 2008.

Paul Dacre, editor of the Daily mail, benefited from total emoluments of £1.64m. He received a basic salary of £1.13m in 2009, as well as £23,000 for a fuel allowance and contributions to medical insurance plans.

Kevin Beatty, managing director of the group's national newspapers, had an overall pay package of £1.22m, sweetened by a £395,000 profit-related bonus.

Details of the emoluments have emerged just days after DMGT reported a 23% slump in pre-tax profits in the year to 4 October, as it felt the impact of restructuring costs across its newspaper businesses.

Pre-tax profits dropped from £262m to £201m, while revenue dipped from £2.3bn to £2.12bn.

The group's regional and national newspaper arm, which publishes about 100 titles, reduced its headcount by more than 1,600 in the period.

 

 

 

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