Fox News hails more Ailes
News topper remains at net for $6 mil
More Articles:
Most Viewed:
Thesps bear down on 'Yogi'(3167 views)Bradley Cooper 'Fields' film offer(2229 views)Awards season has officially arrived(1929 views)Disney's 'Carol' rings in at box office(1643 views)Johnny Depp in talks for 'Tourist'(1226 views)Disaster pic '2012' bows in L.A.(1226 views) |
Ailes, 65, reupped to the tune of $6 million per year for the next five years, but he may earn as much as double that if certain earnings targets are met, according to a filing with the Securities and Exchange Commission.
He will also receive a one-time grant of 333,333 shares of News Corp. stock, which vest in five annual installments.
As part of his deal, Ailes will serve not only as chairman and CEO of the News Channel, which he helped found in 1996, but also as chairman-CEO of the Fox Business Channel, a spinoff in development that could launch as early as next spring.
Deal also reflects Ailes' promotion to chairman of Fox Television Stations Group, 20th Century Fox Television and editor-in-chief of FoxNews.com.
News Corp. topper Rupert Murdoch gave Ailes the reins of News Corp.'s 35 stations and its TV syndication business in August after Lachlan Murdoch, his eldest son and the company's deputy chief operating officer, quit his post and moved to Australia.
Deal locks up another key figure in the News Corp. executive suite, one who built Fox News Channel from an also-ran to one of the conglom's most profitable units.
News Corp.'s highest-paid exec is prexy-COO Peter Chernin, who signed a five-year pact in 2004 for an $8.3 million annual salary. Chernin earned an $18.9 million bonus last year.
Murdoch, who earned $4.8 million with a $18.9 million bonus in 2005, controls News Corp. through a family trust that holds a 29% voting stake.
Ailes' deal includes a car and driver and use of a corporate jet for business and "security services."
