Entries in James Murdoch (2)


James Murdoch to Step Down from Board of Sotheby's Auction House 

Chris Ratcliffe/Getty Images (LONDON) -- News Corp. deputy chief operating officer James Murdoch will leave the board of Sotheby's auction house, Bloomberg News reports.

Murdoch's departure follows demands that he resign over his role in the U.K. phone-hacking scandal and is set to take place on May 8.

The 39-year-old son of billionaire media tycoon Rupert Murdoch already resigned from the board of GlaxoSmithKline Plc, and from his position as executive chairman of News Corp.’s News International publishing unit earlier this year.

Investors are also calling for him to leave as the chairman of British Sky Broadcasting Group Plc. and from the board of News Corp.

Copyright 2012 ABC News Radio


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

ABC News Radio