Murdoch Junior Creams 23% Pay Rise from Pop's BSkyB

14 August 2006

James Murdoch, scion of the global media magnate, who battled his way to the top of the corporate ladder from its second-highest rung, received an annual pittance of £2.75 million ($5.21m; €4.09m), according to the annual report of BSkyB, the NewsCorp-controlled UK satellite TV monopoly.

Murdoch minor, the company's chief executive, enjoyed an annual salary of £825,000 in BSkyB's fiscal year ended June 30, to which were added benefits of £208,600 plus a pension contribution of £66,000. And to reward the ceo for arriving daily at his desk, a further bonus of £1.65m was added to his tally.

Murdoch junior, who was shoehorned into the job by Murdoch senior in November 2003 despite vigorous opposition from major investors, had the good fortune to inherit a vigorous and dynamic company from his predecessors Sam Chisholm and Tony Ball.

According to Sky's annual report Murdoch's bonus, based on a series of performance targets, is the maximum payable under the terms of his contract.

He is not the only recipient of the company's largesse. Finance director Jeremy Darroch received a total of £1.32m, up from £1.13m the previous year having been in the job for only ten-and-a-half months.

By comparison, the amount handed to chairman Rupert Murdoch was petty cash - a mere £52,000.

However, there's no shortage of pork in the barrel. BSkyB last year saw revenues rise year-on-year by 8% to £4.15 billion, while pre-tax profits edged-up 1% to £798m.

Data sourced from; additional content by WARC staff