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Friday
Sep022011

News Corp.'s James Murdoch Turns Down $6 Million Bonus

WILLIAM WEST/AFP/Getty Images(LONDON) -- James Murdoch, News Corp. deputy COO and son of mogul Rupert Murdoch, Friday declined a $6 million bonus awarded to him, according to The Guardian.

News Corp.'s annual financial statement to shareholders stated the younger Murdoch and his father received hefty cash bonuses raising their 2010 take home pays by 74 percent and 47 percent, respectively.  Rupert Murdoch, News Corp. chairman and chief executive received a $12.5 million bonus, according to the financial documents.

James issued a statement Friday, in which he declined the bonus due to "current controversy," and stated he might consider whether to accept a bonus at a later time.

"In light of the current controversy surrounding News of the World, I have declined the bonus that the company chose to award to me.  While the financial and operating performance metrics on which the bonus decision was based are not associated with this matter, I feel that declining the bonus is the right thing to do," the statement read.  "I will consult with the Compensation Committee in the future about whether any bonus may be appropriate at a later date."

James Murdoch will likely still take home a $11.9 million salary for the year despite News Corp.'s failed attempt to acquire BSkyB, according to The Hollywood Reporter.  The deal fell through in the wake of the News of the World hacking controversy.

On Friday the number of people arrested in connection to the phone-hacking scandal rose to 15, The Guardian reports.

Copyright 2011 ABC News Radio

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