Fox Corp. Chief Lachlan Murdoch and Fox News CEO Suzanne Scott Take Pay Cuts During Coronavirus Pandemic

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Fox Corp. CEO Lachlan Murdoch will forgo his salary during the coronavirus pandemic, and executives at the media conglomerate — including Fox News CEO Suzanne Scott — will take a 50% pay cut.

In an internal memo obtained by Mediaite, Murdoch announced that he, along with his father Rupert Murdoch and COO John Nallen, will not be taking a salary until September 30. The austerity measures come as the coronavirus crisis has brought the U.S. economy to a standstill, hampered ad revenue and cancelled sports seasons. The memo was first reported by The Hollywood Reporter.

The cuts will affect all divisions of Fox Corp.: Fox News, Fox Entertainment, Fox T.V. stations and Fox Sports.

“While we don’t know exactly when we will return to normal and full operations across the company, we have decided to take several new actions to ensure that we remain strong and are well-positioned when this crisis recedes,” Murdoch wrote. “To that end, the most senior members of our company will be reducing their salaries so that, to the greatest extent possible, we are able to protect our full-time colleagues with salary and benefit continuation during the period we are most affected by the crisis.”

Murdoch added that his “direct-report executive team will reduce their salaries by 50% through the same period.”

“Collectively, these salary reductions will impact about 700 of our colleagues. And we are suspending compensation increases throughout the company, including for the Board of Directors,” he wrote.