Murdoch Family Scores $206 Million in Golden Parachutes After Disney-Fox Deal
No one is going to the poor house when 21st Century Fox is absorbed into the Mouse House
Tony Maglio | April 19, 2018 @ 11:01 AM
Last Updated: April 19, 2018 @ 12:42 PM
The Murdochs have a lot of money, and once Disney’s $52.4 billion acquisition of the bulk of 21st Century Fox goes through, Fox’s top executives can go swimming in a pool of gold coins a la Disney’s Scrooge McDuck.
According to a lengthy Disney SEC filing on Wednesday, Rupert Murdoch stands to get a golden parachute of $66.7 million, with about $40 million of that coming in cash, once the mega-deal is completed.
Now that truly puts the “gold” (and safety concept) in “golden parachute.”
Rupert’s eldest son, Lachlan Murdoch — an executive chairman of 21st Century Fox, like dad — could get $69.1 million after the merger is finalized, with the majority coming in equity and $25.6 million in cash. Lachlan also has $1.2 million in pension coming to him, something pops does not.
Fox CEO James Murdoch actually receives the most of the bunch: $70.6 million. His breakdown between cash and equity ($42.2 million) is the same as big bro — but his pension payout is about $1.5 million higher.
All three of the Murdochs get an additional $15,000 in benefits, which is chump change to those guys.
Now, all of this is assuming there are no roles for the fellas at the Mouse House. Their “New Fox” compensation is unrelated to this Disney filing.
Furthermore, if for some reason Lachlan or James Murdoch is fired before June 30, 2018, that ex-executive will get $22 million in cash six months later as severance.
See those smiles in the above picture? You’d be beaming too.
By the way, it goes Lachlan, Rupert, James, left-to-right — in case you need to know whom to approach for a loan.
Here is a snapshot of golden parachute compensation table, as filed with the Securities and Exchange Commission:
Need more Disney-Fox financial deets? Here’s a few hundred pages of Wednesday’s S-4.
Here's Everyone Who Dumped Trump This Week (Photos)
In the wake of Trump's response to a violent white supremacist rally, "Unite the Right," in Charlottesville, Virginia, last weekend, several business leaders, council members and media personalities severed ties with the president. Quite a lot actually.
Under Armour CEO Kevin Plank, Intel CEO Brian Krzanich Plank and Krzanich both followed Frazier's lead in quitting the council, citing Trump's Charlottesville response. Trump tweeted condemnation of Frazier, who is black, but for some reason said nothing about these two.
WikiCommons
Alliance for American Manufacturing president Scott Paul Early Tuesday morning, Paul became the fourth CEO to quit the manufacturing jobs group, and yes, he cited Trump's response to Charlottesville as the reason.
Twitter
Trump Makes It Worse Tuesday afternoon, Trump shocked the country with an off-the-rails press conference at Trump Tower in which he appeared to defend and sympathize with the racist mob in Charlottesville. Trump insisted there was blame, as well as "many fine people" on both sides of the conflict in which nazi-sympathizer murdered one person and injured 19 more with his car.
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AFL-CIO Bails Out Soon after Trump's rant, American Federation of Labor and Congress of Industrial Organizations president Richard Trumka resigned from the manufacturing council.
CBS
Advisory Councils Disband On Wednesday, members of Trump's Strategic and Policy Forum agreed to disband after Trump's response to the violence in Charlottesville. Soon after, the president announced via Twitter that he was ending his executive councils.
Twitter
"I Voted For Trump, And I Sorely Regret It" That's the title of a New York Times op-ed written by Julius Krein, the founder and editor of pro-Trump website American Affairs. It went viral, though mainly because people were mocking it.
American Affairs
Trump Loses a Murdoch James Murdoch, CEO of 21st Century Fox and more importantly son of media magnate and conservative icon Rupert Murdoch, dissed Trump in a widely circulated email to employees. He also said he and his wife will donate $1 million to the Anti-Defamation League over POTUS' response to Charlottesville.
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The Arts and Humanities Council Disses Trump, then Disbands The Arts and Humanities Comittee resigned Friday morning en masse with a letter written so that the first letters of every paragraph spelled “RESIST.” The members include Kal Penn, Paula Boggs, Chuck Close, Richard Cohen, Fred Goldring and more.
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Bannon Ousted White House Chief Strategist Steve Bannon was reportedly fired Friday morning, though he insists he resigned July 27—giving two weeks’ notice—but his leaving was put off because of the events in Charlottesville. He will return to Breitbart news to go to “war” for Trump.
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Still More Resignations Politico reported Friday afternoon that a "wave of resignations" hit the Commerce Dept.'s "digital economy" board. More than half the members of the 15-member board resigned.
WikiCommons
A Billionaire BFF Bails on Trump Billionaire investor Carl Icahn stepped down Friday afternoon as unofficial special advisor to Trump, though he doesn't pile on. “I sincerely regret that because of your extremely busy schedule, as well as my own, I have not had the opportunity to spend nearly as much time as I’d hoped on regulatory issues,” he said in a letter to Trump.
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From the manufacturing council to James Murdoch, Trump’s response to Charlottesville has severed ties
In the wake of Trump's response to a violent white supremacist rally, "Unite the Right," in Charlottesville, Virginia, last weekend, several business leaders, council members and media personalities severed ties with the president. Quite a lot actually.