Fox Corp. has become the latest media company to slash salaries as the coronavirus has decimated the advertising marketplace.
In a memo to employees issued Wednesday, Fox Corp. Executive Chairman Lachlan Murdoch said he and his father, Rupert, would forgo their salaries through Sept. 30, as will the company’s chief operating officer, John Nallen; chief legal and policy officer, Viet Dinh; and chief policy officer, Steve Tomsic., will take a 50% pay reduction over the same period. Executives at the vice president level or higher will see their salaries reduced 15% from May 1 through July 31.
The reductions will affect around 700 employees at the company, which includes its network TV operation, television stations, sports division and Fox News Media. Compensation increases also have been suspended.who have been broadcasting remotely — through May 15. The company had earlier set a target for a May 4 return.
“While we don’t know exactly when we will return to normal and full operations across the company, we have decided to take several new actions to ensure that we remain strong and are well-positioned when this crisis recedes,” he wrote. Stay-at-home orders have kept much of the nation indoors and watching plenty of television, although a large portion has been of streaming services such as Netflix, which saw
The Murdoch’s can all fuck themselves. They own propaganda Tv. They could do something about it. They don’t.
BrandiKruse Why? I thought the pandemic narrative that FoxNews was peddling was driving ad revenues 🤷🏻♂️
The Disney sale was a BIG mistake. The entertainment properties are going to far outweigh the news sector in terms of profitability. It might take 10-20 years but you have to go long to get maximum value of intellectual property.
Please transfer title and control to a public trust.
Does that include your anchor of death, Sean Hannity?
First good thing they’ve done in 25 years! 👏🏼
I can't roll my eyes hard enough at rupertmurdoch and sons that have lead to people dying because of believing FoxNews commentators.
just fire everyone, for the good of the country.
Spare us.