Senior News Corp executives, including Rupert and James Murdoch, saw millions cut from their annual bonuses last year as a result of the phone hacking scandal engulfing the media group's UK newspapers but the two Murdoch's were still paid around $57 million between them for the year.
Rupert Murdoch was paid just over $US30 million, down nearly $3 million on the prior year, while James was paid $16.8 million, more than $1 million less than the previous year as more than $US5 million was cut from the bonuses of the company's top four executives.
In the company's annual financial report today, the company said that while these executives "made contributions to drive the overall success of the business", the remuneration committee balanced this with the allegations of misconduct in the UK prior to the 2012 financial year.
"The compensation committee believed that management should share responsibility for the impact of these matters on the company."
The attempts at appeasement are not expected to spare Mr Murdoch another acrimonious shareholders meeting next month.
Last year there were significant votes lodged against the re-election of James and Lachlan Murdoch to the board, and the remuneration of the company’s executives.
For this year’s meeting, to be held in Los Angeles on October 16, several investors will be putting forward resolutions for the appointment of an independent chairman, and elimination of the company’s dual-share structure which has ensured the Murdoch family control 40 per cent of votes despite owning just 12 per cent of the company.
Investors are also seeking a simple majority vote on all resolutions.
News Corp has said it will oppose these resolutions.
More to come.