The Week: People News - Murdoch earnings down

Rupert Murdoch has seen his overall earnings fall from $27.5 million to $19.9 million for the year ending 30 June, after his News Corporation empire made a loss of $3.4 billion.

The company, which owns 20th Century Fox and The Sun newspaper, has struggled to overcome the drop in commercial spending during the recession and the cuts made to the valuation of its assets. For the period, Murdoch's basic salary remained unchanged at $8.1 million, but his performance-related pay dropped from $17.5 million to $5.4 million.