MURDOCH OFFERS TO SWEETEN CHERNIN'S DEAL

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MURDOCH OFFERS TO SWEETEN CHERNIN'S DEAL
Thursday, February 26 2004

Amid growing reports that the Disney chairmanship would be offered to News Corp President and COO Peter Chernin if Eisner is forced to step down, Rupert Murdoch, News Corp's chairman, has reportedly offered his second-in-command a new deal. Chernin's current contract is due to expire in October. Already, he is the company's highest-paid executive, earning $17.3 million in salary in 2003, some $3 million more than Murdoch. By way of contrast, Eisner received only $1 million plus $5 million in stock in 2002.