Mogul to split the difference, 4 million or so
The imminent split of News Corporation will bring benefits for Rupert Murdoch - a 15 per cent pay rise when the move is completed later this year.
Mr Murdoch's remuneration will jump by almost $US4 million to $US28.3 million ($A27.52 million).
In June, News Corp will break up into two separate companies, with "new News Corp" holding all publishing assets, including Australia, and 21st Century Fox holding the company's more successful film and television assets.
Mr Murdoch will remain chairman and chief executive of 21st Century Fox and executive chairman of the new News Corp.
News Corp told the US Securities Exchange Commission the increase was "appropriate given Mr Murdoch's responsibilities associated with two public companies".
While Mr Murdoch's base salary and target bonus across both entities will remain at $US20.6 million, his long-term incentives will jump from $US4 million to $US7.7 million.
News Corp said the increase in performance-based, long-term incentives would align Mr Murdoch's remuneration with the interests of shareholders.
By comparison, incoming BHP chief executive Andrew Mackenzie will earn a maximum of $12.2 million, including incentives.
Since confirming it was considering a restructure in late June last year, News Corp shares have jumped 42.1 per cent to $31.20.
Mr Murdoch's pay rise follows $US347 million in legal fees and settlements over the phone hacking scandal at its now defunct UK newspaper, News of the World.
At the company's annual general meeting last October, Mr Murdoch saw off moves from dissident shareholders, including Australian pension fund First Super, to remove him as chairman. Before the AGM, the 82-year-old was on the front foot, taking to Twitter to vent at seemingly angry investors: "Signs pretty peaceful, but any shareholders with complaints should take profits and sell!"