Rupert Murdoch and sons Lachlan and James saw their total compensation double in fiscal 2018 from 2017 due to restricted stock options related to Disneys takeover of most of 21st Century Fox.
According to a proxy statement filed with the SEC, Rupert Murdochs total compensation reached $49.2 million, up from $29.3 million in 2017. Lachlan Murdoch was at $50.7 million, up from $20.6 million, while James Murdoch reached $50.3 million, compared with $20.3 million.
The huge bumps reflect the agreement with Disney on the $71.3 billion acquisition of everything but the Fox broadcast network, local stations, Fox News and FS1. The filing notes that no more stock options related to the transaction are expected between 2019 and 2021.
John Nallen, the CFO of 21st Century Fox, also saw a major increase in 2018, to $23.8 million from $10.5 million. Gerson Zweifach, the companys general counsel, went from $7.9 million in 2017 to $19.4 million in 2018.
The Fox-Disney deal is in the final stages of regulatory approval. The companies have said they expect it to close in the first half of 2019, but many observers see it likely by the opening weeks of the new year.
The proxy statement also said the Fox annual meeting will be held on November 14 on the Fox lot in LA. Among the items up for consideration at the meeting is the re-election of 11 members of the companys board of directors.