Mr Rupert Murdoch, chairman and chief executive of News Corp, saw his total remuneration increase by more than 40 per cent in the last financial year, after receiving a $12.5 million (€10.33 million) bonus from the entertainment and media group.

News Corp's annual report for the year ending June 30 showed that the 73-year-old media mogul received total pay and bonuses of $17 million and a further $3.5 million of pension contributions.

The pay increase, after what Mr Murdoch described as an outstanding year for the company, brought his remuneration into line with Mr Peter Chernin, News Corp's chief operating officer.

Mr Chernin, who recently signed a new contract with the company, received $8.3 million in salary and $8.89 million in bonuses - a 7 per cent increase on the amount received in the 2003 financial year.

Mr Lachlan Murdoch, deputy chief operating officer and eldest son of the chairman, was paid $1.8 million in salary and $2.34 million in bonuses.

Mr Roger Ailes, chief executive of the Fox News channel controlled by News Corp, received $4 million in basic pay and bonuses of $3.11 million.

Details of the latest remuneration emerged as Mr Murdoch reiterated the company's ambition to move its domicile and primary stock market listing from Australia to the United States.

Although some Australian institutional shareholders have vowed to vote against the move, most industry analysts expect News Corp to receive the necessary shareholder approval at its annual meeting next month.

In his introduction to the annual report, Mr Murdoch said: "By becoming a US-domiciled company, we believe News Corp would have improved access to a larger pool of investment capital - specifically the $12 trillion US capital market.

In addition, the company would become eligible for inclusion in US indices." This week News Corp received court approval in Australia to put the matter to a shareholder vote.- (Financial Times Service)