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Murdoch, of course, controls the company through a family trust. CFO Steve Tomsic also inked a deal extension.
By Alex Weprin
Senior Editor
In case it wasn’t obvious already, Lachlan Murdoch will continue as CEO of Fox Corp. for years to come.
Fox on Thursday disclosed in a securities filing that it had given Murdoch an extension to his deal as CEO through June of 2030. CFO Steve Tomsic also scored a contract extension.
Murdoch’s $3 million salary remains unchanged, but his target annual bonus is being raised to $9,000,000 and his target annual equity award is being raised to $20,000,000. Tomsic, meanwhile, will see his salary rise to $2,000,000 per annum, target annual bonus to $3,000,000 (with a further increase to $3,500,000 effective as of July 1, 2028) and target annual equity award to $4,000,000.
Murdoch recused himself from the extension talks. His fiscal 2025 compensation totaled $33 million.
Murdoch, of course, controls Fox through a family trust after buying out his siblings last year, ending a legal battle that had spilled into public view. After his father Rupert chose him to take over the family empire, James and Elisabeth Murdoch and Prudence MacLeod had fought the changes in a Nevada court. Each of Lachlan’s siblings stood to earn about $1.1 billion in the settlement.
Lachlan is expected to pursue his own path at Fox, likely continuing his efforts to push further into streaming and digital, with Tubi and Fox One among his efforts already. While a contract extension could be seen as a foregone conclusion, it nonetheless solidifies his role atop the media empire, which owns Fox News, the Fox broadcast network, and other assets.
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