In case it wasn’t already clear, Lachlan Murdoch will continue as Fox Corp’s CEO for years to come.
Fox revealed Thursday in a securities filing that it had given Murdoch an extension to his deal as CEO through June 2030. Chief Financial Officer Steve Tomsik also scored a contract extension.
Murdoch’s salary of $3 million remains unchanged, but his targeted annual bonus will be raised to $9,000,000, and his targeted annual stock award will be raised to $20,000,000. Meanwhile, Tomsic will see his salary rise to $2,000,000 annually, his targeted annual bonus to $3,000,000 (with a further increase to $3,500,000 effective July 1, 2028) and his targeted annual stock bonus to $4,000,000.
Murdoch has stepped down from the extension talks. His total financial compensation for the year 2025 reached $33 million.
Of course, Murdoch takes control of Fox through a family trust after buying out his brothers last year, ending a legal battle that has spilled over into public opinion. After his father Robert chose him to take over the family empire, James, Elizabeth Murdoch and Prudence MacLeod fought the changes in a Nevada court. Each of Lachlan’s siblings was expected to earn about $1.1 billion in the settlement.
Lachlan is expected to pursue his own path at Fox, and will likely continue his efforts to move toward streaming and digital, with Tubi and Fox One already among his efforts. While a contract extension may be viewed as a foregone conclusion, it nonetheless cements his role at the top of the media empire, which owns Fox News, the Fox Broadcast Network, and other assets.
