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Despite Scandals, Rupert Murdoch Nets 47% More Dough From News Corp.

Reported by Ellen - September 2, 2011 -

As we’ve been reporting, the News Corp. phone hacking scandals have had serious consequences to News Corp.’s business. They media giant lost a big contract with New York State and the conglomerate was forced to drop its bid for British broadcaster BSkyB. Plus, News Corp. is not even close to being out of the woods. Nevertheless, corporate filings show that Rupert Murdoch’s compensation rose 47% in fiscal year 2011, to $33.3 million. (H/T Mediaite) However, this could be due to exercising stock options.

As Mogulite notes,

While the numbers are shocking, it may be too soon to completely freak out about the pay. It’s not yet clear whether this compensation climb was due to exercising stock options or whatever other excuse News Corp might possibly be able to scrape together, so let’s all reserve judgment for just a little bit?

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