CHERNIN'S CONTRACT ALLOWS HIM TO QUIT FOX

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CHERNIN'S CONTRACT ALLOWS HIM TO QUIT FOX
Friday, November 26 2004

News Corp President Peter Chernin negotiated a contract renewal last summer that would allow him to exit the company quickly if he is asked to replace Michael Eisner as CEO of the Walt Disney Co. The contract also allows him to leave easily if Rupert Murdoch decides to step down as CEO without naming Chernin to succeed him. Details of Chernin's contract were published today (Friday) by the Los Angeles Times, which cited sources close to the negotiation.

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