MySpace Founders Asking News Corp for $50M
Tom Anderson and Chris DeWolfe (MySpace founders) have made a very aggressive compensation proposal to owner News Corp for when their contract is up in October. They're asking Peter Chernin and Rupert Murdoch for a 2-year deal worth $50 million total. That comes out to $25 million each, or $12.5 million a year. Plus, the pair want a development fund of $15 million to invest in internet companies. Even though MySpace is probably the most integral part of News Corp's overall corporate strategy.
According to Deadline Hollywood Daily, the chances of Tom and DeWolfe getting what they want pay-wise is "slim to none" and "highly unlikely"...
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