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Executive Chernin at Newscorp


 

Peter Chernin, President and COO of Newscorp, has split. The NYTimes has a piece about Murdoch and how his romantic love of print is killing his company (the NYPost alone loses tens of millions a year; he spent way too much on the wsj), but it looks like Chernin’s departure has more to do with simply realizing he’s never going to get to run the Death Star.

Besides, check out his compensation deal:

“Mr. Chernin will likely activate a six-year production deal in his contract that calls for News Corp. to buy some films he produces. Mr. Chernin’s current contract also calls for him to receive $40 million in cash if he leaves News Corp., along with other benefits.”


 
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Executive Chernin at Newscorp

  1. I have no problem at all with the Canadian government stepping up subsidies to Canada’s print news media. I’m not sure how much it will cost the taxpayers to keep our newspapers and news magazines afloat over the next decade, but it’s probably worth the price.

  2. Shouldn’t hte headline be reversed? Vader seemed to work for Tarkin, not vice versa.

    • Yeahh good point. I will fix. Doh.

  3. Mr. Chernin’s current contract also calls for him to receive $40 million in cash if he leaves News Corp., along with other benefits.

    You know executive compensation has reached insane levels when the president’s golden parachute could threaten the solvency of the company he is leaving behind.

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