Fox Corp. CEO Lachlan Murdoch saw his annual compensation rise to $33 million in fiscal 2025 from $23.8 million in the previous year, according to a proxy statement filed with the SEC.
Along with a base salary of $3 million, he received stock awards totaling $10.6 million and another $10.7 million in non-equity incentive plan compensation.
President and COO John Nallen was the next-highest-paid exec at the company, taking home $15.3 million.
Fox has fared better than its media peers, making a better-than-expected go of it as a leaner, TV-focused company in the wake of Disney’s acquisition of most its predecessor, 21st Century Fox, in 2019. Shares in Fox have risen 24% year to date. In addition to ongoing strength in linear TV thanks to sports and Fox News, the company has seen growth in free, ad-supported streaming service Tubi and has also launched subscription streamer Fox One in response to cord-cutting trends.
Murdoch’s future as the leader of his father Rupert’s media empire was recently affirmed by news of a settlement among the Murdoch family. Rupert Murdoch, 94, designated Lachlan Murdoch as the leader of the company for the next 20 years. Grace Murdoch and Chloe Murdoch, the daughters of Rupert Murdoch and his ex-wife, Wendi, joined Lachlan as members of a new trust, while James, Prudence and Elisabeth Murdoch were paid out and excluded from the future plan.
The proxy statement also noted the company’s annual shareholder meeting would be held November 14.