Fox Corp suspends salaries of top executives
Fox Corporation has announced suspended salaries for its top executives, including that of chairman Rupert Murdoch, reports Bloomberg.
The move comes as the company copes with the virus.
Apart from Murdoch, his son Lachlan Murdoch who is also the CEO and three other executives will not be given salaries through the month of September. Suzanne Scott, CEO Fox News, will also be receiving 50 percent of her pay.
In addition, approximately 700 employees will also have their pays reduced.
Staff members have been working from home for weeks. Now, the timeline is further being extended till May 15.
The company is also suspending live sports, which has hurt viewership for networks such as Fox Sports 1.