The earnings of News Corp's top executives were revealed in a regulatory statement filed by the group in New York, covering its financial year ended June 30. Bonuses were based on a calculation of growth in the company's earnings per share.
Murdoch's bonus was $6.39m higher than last year's, while his basic salary was unchanged at $4.5m. Chernin's bonus was $10.89m higher than last year's, while his basic salary was $8.32m, virtually the same as last year.
Chernin is seen as key to steadying the News Corp ship while Murdoch battles with succession problems posed by his son Lachlan's decision to leave the business following in his sister Elisabeth's footsteps.
In July 2004 Chernin negotiated a new five-year deal after speculation he would move to Disney, securing the possibility of bigger bonuses such as this year's.
Lachlan, who steps down as deputy chief operating officer on Tuesday, received a bumper payment of $15.6m, after taking home slightly less than $4m last year.
The payment included his basic salary of $2m, and a bonus of $5.78m plus $187,500 in share options. His severance deal was equivalent to one year's salary and bonus, effectively doubling his annual income.
Lachlan has followed his surprise decision to quit the family firm by registering a company called Illyria in Australia with himself as sole director and secretary. There is no indication yet what the company will do, but Lachlan has signed a two-year non-compete deal with News Corp and remains on its board.
Relations between him and his father are believed to have been strained by Lachlan being bypassed in the chain of command at Fox TV and by Murdoch senior's attempts to transfer some of his eldest childrens' inheritance to his two daughters by his new wife Wendi Deng.
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