STREAMING NOW: Watch Now

Murdoch family made big money off the Disney-Fox deal

The Murdoch family won big for steering the sale of most of 21st Century Fox to Disney.A new governme...

Posted: Oct 1, 2018 7:44 AM
Updated: Oct 1, 2018 7:44 AM

The Murdoch family won big for steering the sale of most of 21st Century Fox to Disney.

A new government filing reveals just how big of a win they achieved.

Rupert Murdoch, the family patriarch and executive chairman of Fox, made $49.2 million during the latest fiscal year, a big chunk of which was in stock awards. That's about $20 million more than he made last year.

Murdoch's sons, executive chairman Lachlan and CEO James, made about $50 million each -— about $30 million more than what they each made last year. Roughly $36.7 million of their shares were stock awards.

The document, which was filed with the Securities and Exchange Commission on Friday, makes clear that the awards were related to Disney's purchase. It calls Fox's executive officers "critical" to the deal's completion.

The filing noted that the transaction also resulted in a significant windfall for stockholders, with stock prices spiking 75% in the 2018 fiscal year.

Disney spent $71.3 billion to acquire most of the company, including the Fox movie studio, after a prolonged bidding war with Comcast. The deal is expected to close in the first half of next year.

The Murdochs aren't letting everything go. A "New Fox" company will include the company's major TV channels, including Fox News, Fox Business Network, Fox broadcasting and the sports cable networks FS1 and FS2.

Fox announced earlier this year that Lachlan Murdoch will become chairman and CEO of that new company, while his father serves as co-chairman. James is expected to leave Fox.

Oregon Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 43228

Reported Deaths: 671
CountyConfirmedDeaths
Multnomah9401165
Marion5963108
Washington588578
Umatilla339345
Clackamas320666
Lane245127
Malheur194338
Jackson17427
Deschutes116113
Yamhill100515
Linn82715
Polk66315
Jefferson60510
Morrow5467
Lincoln51813
Union4772
Benton4486
Klamath4213
Douglas3638
Wasco34916
Hood River2791
Columbia2701
Josephine2693
Coos2591
Clatsop2460
Baker1333
Crook1122
Tillamook720
Curry581
Wallowa462
Lake410
Harney340
Sherman190
Gilliam110
Grant110
Wheeler10
Unassigned00
Eugene
Overcast
45° wxIcon
Hi: 65° Lo: 40°
Feels Like: 45°
Corvallis
Overcast
47° wxIcon
Hi: 63° Lo: 40°
Feels Like: 47°
Roseburg
Clear
46° wxIcon
Hi: 73° Lo: 40°
Feels Like: 46°
North Bend
Clear
52° wxIcon
Hi: 63° Lo: 47°
Feels Like: 52°
KEZI Radar
KEZI Temperatures
KEZI Planner

LATEST FORECAST

Most Popular Stories

Community Events