Murdoch empire returns to profit, ties pay to performance

News Corp reported a sharp improvement in performance on the back of buoyant pay-TV revenues.
 
The global media group controlled by the Murdoch family reported a fiscal fourth quarter net profit of $875 million, compared with a loss of $203 million in the same period a year ago.
 
News Corp's pay-TV businesses now account for more than a half of the company's operating income, with profits from the segment tripling in the last five years.
 
The company revealed earlier that it plans to link senior management remuneration more closely to its financial performance, as News Corp attempts to align the media group's interests with those of its shareholders.
 
The decision is expected to affect the bonuses of Rupert Murdoch, the group's chairman and chief executive; his son James Murdoch, chief executive of Europe and Asia; Chase Carey, deputy chairman; and David DeVoe, chief financial officer.

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