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Rebekah Brooks receives £10.8m News International payoff

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Rebekah Brooks receives £10.8m News International payoff

Post by Guest on 12.12.12 20:06

Rebekah Brooks receives £10.8m News International payoff

12 December 2012 Last updated at 18:48



Rebekah Brooks, the former head of News International, was paid £10.8m after she resigned, it has emerged.

The figure, compensation for loss of office, appeared in the company's accounts, released on Wednesday.

Mrs Brooks resigned in July 2011 shortly after the News of the World closed because of phone hacking allegations.

The accounts for the year to July 2012 also show the group set aside £17.5m to cover legal fees and damages.

That figure relates to existing claims only, and could rise in the future if it receives more, News International said.

Individuals who have received payments from the company include the parents of the murdered schoolgirl Millie Dowler and the singer Charlotte Church.

Mrs Brooks, who has been charged over alleged payments to police and public officials, was a former editor of the News of the World and the Sun newspaper, and later rose to chief executive of News International.

She appeared at the Old Bailey last week and is due to face trial in September next year over alleged illegal payments to public officials.

Losses

The company said this financial year contained a "high level of uncertainty" due to potential damages and legal costs which may be payable as result of the legal action by those alleging their private messages were intercepted by the News of the World in search of stories.

News International Group is a subsidiary of Rupert Murdoch's News Corporation and owns both the Times titles as well as the Sun newspaper.

Its accounts show it lost £153m in the year to July 2012 compared with a profit of £113m a year earlier.

The group said one of the main causes of the loss, £46.6m, was the closure of the News of the World, which published its last edition in July last year.

More than half of this is legal fees, it said. In addition to that there is the £10.8m loss of office payment and £2.9m in charitable donations from the sale of the last News of the World.

The Times

Separately, the editor of the Times, James Harding, has announced his resignation.

He will leave within a month and is expected to be replaced by Sunday Times editor John Witherow. .

In an address to staff, Mr Harding implied that the decision was not entirely his: "It has been made clear to me that News Corporation would like to appoint a new editor of the Times.

"I have, therefore, agreed to stand down. I called Rupert this morning to offer my resignation and he accepted it," he said.

Mr Harding could move to Mr Murdoch's publishing firm, Harper Collins, BBC business editor Robert Peston says.

Rupert Murdoch said: "James has been a distinguished editor for the Times, attracting talented staff to the paper and leading it through difficult times.

"I have great respect for him as a colleague and friend, and truly hope we can work together again."

Mr Harding, who is 43, was one of the youngest journalists to take charge of the paper.

Split

The change at the Times newspaper comes hard on the heels of another move at the top of Mr Murdoch's company.

Last week, the chief executive of News International, Tom Mockridge, who had taken over from Mrs Brooks in July 2011, said he would leave his role before the end of the month.

Rupert Murdoch, chairman and chief executive of News Corp, said that Mr Mockridge's decision was "absolutely and entirely his own".

News Corp plans to split into two businesses, separating its newspaper and book publishing interests from its now dominant and much more profitable TV and film enterprises.

http://www.bbc.co.uk/news/business-20705535
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Re: Rebekah Brooks receives £10.8m News International payoff

Post by Nina on 12.12.12 20:38

candyfloss wrote:Rebekah Brooks receives £10.8m News International payoff

12 December 2012 Last updated at 18:48



Rebekah Brooks, the former head of News International, was paid £10.8m after she resigned, it has emerged.

The figure, compensation for loss of office, appeared in the company's accounts, released on Wednesday.

Mrs Brooks resigned in July 2011 shortly after the News of the World closed because of phone hacking allegations.

The accounts for the year to July 2012 also show the group set aside £17.5m to cover legal fees and damages.

That figure relates to existing claims only, and could rise in the future if it receives more, News International said.

Individuals who have received payments from the company include the parents of the murdered schoolgirl Millie Dowler and the singer Charlotte Church.

Mrs Brooks, who has been charged over alleged payments to police and public officials, was a former editor of the News of the World and the Sun newspaper, and later rose to chief executive of News International.

She appeared at the Old Bailey last week and is due to face trial in September next year over alleged illegal payments to public officials.

Losses

The company said this financial year contained a "high level of uncertainty" due to potential damages and legal costs which may be payable as result of the legal action by those alleging their private messages were intercepted by the News of the World in search of stories.

News International Group is a subsidiary of Rupert Murdoch's News Corporation and owns both the Times titles as well as the Sun newspaper.

Its accounts show it lost £153m in the year to July 2012 compared with a profit of £113m a year earlier.

The group said one of the main causes of the loss, £46.6m, was the closure of the News of the World, which published its last edition in July last year.

More than half of this is legal fees, it said. In addition to that there is the £10.8m loss of office payment and £2.9m in charitable donations from the sale of the last News of the World.

The Times

Separately, the editor of the Times, James Harding, has announced his resignation.

He will leave within a month and is expected to be replaced by Sunday Times editor John Witherow. .

In an address to staff, Mr Harding implied that the decision was not entirely his: "It has been made clear to me that News Corporation would like to appoint a new editor of the Times.

"I have, therefore, agreed to stand down. I called Rupert this morning to offer my resignation and he accepted it," he said.

Mr Harding could move to Mr Murdoch's publishing firm, Harper Collins, BBC business editor Robert Peston says.

Rupert Murdoch said: "James has been a distinguished editor for the Times, attracting talented staff to the paper and leading it through difficult times.

"I have great respect for him as a colleague and friend, and truly hope we can work together again."

Mr Harding, who is 43, was one of the youngest journalists to take charge of the paper.

Split

The change at the Times newspaper comes hard on the heels of another move at the top of Mr Murdoch's company.

Last week, the chief executive of News International, Tom Mockridge, who had taken over from Mrs Brooks in July 2011, said he would leave his role before the end of the month.

Rupert Murdoch, chairman and chief executive of News Corp, said that Mr Mockridge's decision was "absolutely and entirely his own".

News Corp plans to split into two businesses, separating its newspaper and book publishing interests from its now dominant and much more profitable TV and film enterprises.

http://www.bbc.co.uk/news/business-20705535

Dung heap and roses comes to mind.

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Re: Rebekah Brooks receives £10.8m News International payoff

Post by PeterMac on 12.12.12 21:34

The Judge will no doubt bear this in mind when she is sentenced. Or IF she is sentenced.

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Re: Rebekah Brooks receives £10.8m News International payoff

Post by Guest on 12.12.12 21:40

BTW Peter et al, any news from our antipodes on 12/12/12 yet?
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Re: Rebekah Brooks receives £10.8m News International payoff

Post by Woofer on 12.12.12 22:23

What a great message all these pay-offs are sending - do your job badly and even commit a crime and you`re rewarded with millions.

Absolutely sickening.
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Re: Rebekah Brooks receives £10.8m News International payoff

Post by MrsC on 12.12.12 22:45

@Woofer wrote:What a great message all these pay-offs are sending - do your job badly and even commit a crime and you`re rewarded with millions.

Absolutely sickening.



Yep! Merry Christmas.
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Re: Rebekah Brooks receives £10.8m News International payoff

Post by PeterMac on 13.12.12 7:42

Châtelaine wrote:BTW Peter et al, any news from our antipodes on 12/12/12 yet?
Yes. Apparently the world came to an end over there last night, but they just cracked open another tinny and said "No Worries" Mr

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Re: Rebekah Brooks receives £10.8m News International payoff

Post by uppatoffee on 13.12.12 14:29

I don't agree with the amount she got, but am not surprised by it. I imagine she was probably on at least £2m a year. (In 2010 Paul Dacre at the Mail was paid £2.8m) A lot of this settlement figure is probably in pension and legal costs, which we all know do not come cheap, so maybe 3/4 years salary equivalent.
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Re: Rebekah Brooks receives £10.8m News International payoff

Post by Inspectorfrost on 18.12.12 18:40

How can someone be given all that money when a) the employers must have known about the illegal activities she sanctioned and b) rewarding her still after she is charged by police with perverting the course of justice, it is plain sick

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Re: Rebekah Brooks receives £10.8m News International payoff

Post by Willo on 18.12.12 18:56

Hush money?
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Re: Rebekah Brooks receives £10.8m News International payoff

Post by Inspectorfrost on 18.12.12 19:01

@Willo wrote:Hush money?

Hush money for criminal activity would be private, it seems this was her official redundancy money, enough to buy her specialist red ringlet shampoo till she is 300 years old plus or however long medusas live for

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Re: Rebekah Brooks receives £10.8m News International payoff

Post by Willo on 18.12.12 19:37

What better way to legitimise hush money than to call it an official redundancy. She knows too much.
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Re: Rebekah Brooks receives £10.8m News International payoff

Post by MB1! on 18.12.12 23:24

When the first reports about phone hacking came out, I couldn't understand why such a ruthless capatilist as Murdoch was so supportive of Brooks.

Note the way that the Brook's payment is dependent upon her, and by implication, her employer at that time, being exonerated.

Nice people you mix with Rebekha.

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Re: Rebekah Brooks receives £10.8m News International payoff

Post by Inspectorfrost on 19.12.12 19:55

@MB1! wrote:

Note the way that the Brook's payment is dependent upon her, and by implication, her employer at that time, being exonerated.

Nice people you mix with Rebekha.

Thanks MB1, I didnt realise she wouldnt get it if found guilty.

Willo, that money seems about right for laying her off, pension, shares, etc. But as MB1 said, if she is found guilty, she wont get a penny.Murdoch wins either way.

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Re: Rebekah Brooks receives £10.8m News International payoff

Post by MB1! on 20.12.12 21:03

If what i have read in the press is correct then murdoch has made a bet to nothing on Brook's. There is no real financial downside for him.

As far as i know Cameron has not hedged the Brook's situation, or has he?

Brooks' fate and that of Champagne Charlie are inconsequential in the long term scheme of thing's of course.

They may end up being sacrificial lamb's , in their worst case scenario, but the game will still go on without them. The people at the top will just carry on making their money, untouched, as always.

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Re: Rebekah Brooks receives £10.8m News International payoff

Post by Inspectorfrost on 21.12.12 20:50

MB1 I really don't know the ins and outs of politics and glad that I don't understand the seedy lot. I just hope if RB was involved in suppressing any truth in the Madeleine case, she goes down and that goes for any of them, all the spineless wimps or otherwise in the so called british media

Its an established fact that both Clarence Mitchell and the media have lied and spun here, there heads on a platter is the least one could wish for

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Re: Rebekah Brooks receives £10.8m News International payoff

Post by MB1! on 22.12.12 22:28

As far as I know, if you give evidence in a Court of Law then you have to promise to tell the truth the whole truth and nothing but the truth.

The McCann couple seem to have done everything that they can to keep themselve's out of a Court of Law, unless it is a libel court.

I'm not a lawyer, so my, very serious, question would be, for all you lawyer's out there......, in a libel court would they be represented by someone else, so that they would not be under oath themselves? Are their legal counsellor's allowed to tell lies on their behalf without any recourse upon them?

Why would they favour the libel court's, instead of getting to the truth about what really happened to Madeleine. It doesn't seem to add up.

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Re: Rebekah Brooks receives £10.8m News International payoff

Post by Inspectorfrost on 29.12.12 18:56

Lawyers can twist and lie, its their job description. the judge can reprimand them but thats about it.

The Mccanns couldnt possibly ever survive in a cross examination in any court case,hell, they would stick their foot in their mouths just from friendly defence questioning.
:fingerscrossed

And no, it does not add up, much hasnt in this case from the off.

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Re: Rebekah Brooks receives £10.8m News International payoff

Post by aiyoyo on 02.01.13 4:50

Rebekah Brooks, the former head of News International, was paid £10.8m after she resigned, it has emerged.
Mrs Brooks, who has been charged over alleged payments to police and public officials, was a former editor of the News of the World and the Sun newspaper, and later rose to chief executive of News International.

Losses
Its accounts show it lost £153m in the year to July 2012 compared with a profit of £113m a year earlier.

The group said one of the main causes of the loss, £46.6m, was the closure of the News of the World, which published its last edition in July last year.
More than half of this is legal fees, it said. In addition to that there is the £10.8m loss of office payment and £2.9m in charitable donations from the sale of the last News of the World.

The Times
Separately, the editor of the Times, James Harding, has announced his resignation.
He will leave within a month and is expected to be replaced by Sunday Times editor John Witherow. .
Mr Harding, who is 43, was one of the youngest journalists to take charge of the paper.

Split
The change at the Times newspaper comes hard on the heels of another move at the top of Mr Murdoch's company.
Last week, the chief executive of News International, Tom Mockridge, who had taken over from Mrs Brooks in July 2011, said he would leave his role before the end of the month. Rupert Murdoch, chairman and chief executive of News Corp, said that Mr Mockridge's decision was "absolutely and entirely his own".

Hmmm...I question the accuracy of this reporting.
"Was the 10.8 million for lost of office" reflected in the Published accounts a standalone payment for Brooks alone only or collective redundancy payments for all retrenched employees when NOTW closed down?

Either it is standard practice for the company to pay redundancy or it is not. If it is, it would mean every defaulted retrenched staff was equally entitled to compensation. In addition Mrs Brookes' resignation (on her own accord supposedly), her successor was reported as having resigned too.. It may be safe to assume every retrenched as well as resigned employee was compensated for 'Lost of either Job or Office'. Else, if no one else got paid compensation except for Brooks, isn't the implication bloody obvious?

Would the company have left itself wide open to criticism of biased and implication of hush money?
Secondly, Murdoch for all his might and majority shares would have had to persuade every Director (a majority of them anyway) to sanction such a one-off large sum payment; and crucially would any non-involved in the hack Directors risk their credibility for a woman whose actions brought down the company dragging its name in mud? It is not the interest of the Board to cover up for Murdoch one would imagine.

Logically speaking, if Murdoch was buying his 'get out of jail card' from Brooks, 'silence' money to Brooks would one would imagine come from Murdoch's personal account rather than corporate account. No matter the size of payment, likely in parallel proportion to the size of damage to Murdoch, would be well worth every penny spent if that helps him avoid prosecution.
On the other hand, even if Brooks alone received 10.8 million from corporate account, no one knows whether Brooks was satisfied with it since she will never ever get another job in town again so to speak now that her questionable integrity and criminal work ethics is exposed.




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Re: Rebekah Brooks receives £10.8m News International payoff

Post by plebgate on 02.05.13 21:41

Last i heard Brooks was supposed to re-appear before court in April IIRC, not seen anything reported.

Is this going to be another hearing with reporting restrictions.

If Cameron wants to be re-elected this is one of the first things he should sort out imo.

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