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Media mogul's son to earn nearly $20 million

James Murdoch (pictured) could net nearly $20 million in his new post at News Corp. He will receive a base salary of $3.4 million in his role as head of Asian and European operations and could also earn bonuses of approximately $16 million.

However, he still has some way to go to match his father's wealth. Rupert Murdoch, CEO of News Corp, earns a reported salary of $8.1 million. He also owns 30% of the firm and is worth an estimated $9 billion.

The firm announced that James would be eligible for an annual bonus of up to $3.4 million and a performance-based bonus of up to $12.5 million based upon the company's earnings. In addition, he will be eligible to participate in a long-term incentive plan under which he could be granted performance-based or discretionary equity awards.

James resigned as CEO of News Corp's BSkyB in December last year in order to take up his new post and is widely seen as the likely heir to Rupert's media empire. His new salary compares favourably to the $1.8 million he received at BSkyB along with approximately $4 million in bonuses and benefits.

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