Guardian dubbed yesterday "Murdoch's bloody Friday," as Rebekah Brooks, chief executive of News International announced her resignation, followed by Les Hinton, Dow Jones CEO and former News International publisher, hours later. Outrage over News of the World's phone-hacking continues to spread far and wide, and few were sorry to see Murdoch's top executives go, particularly News of the World's freshly unemployed staff, who hid mockery of Brooks in the crossword puzzle of the paper's final issue.
But if Brooks' and Hinton's resignation seemed like the News Corp.'s top brass was finally getting its just desserts, consider their severance packages. The Independent is reporting that Wapping payouts for departing executives are estimated to be £8.5m, or almost $14 million. Senior colleagues estimated that Brooks is walking out with £3.5m, or more that $5.5 million. Final editor of NOTW, Colin Myler, is believed to be in line for a £2m pay-off ($3.2 million) and two of the company's senior lawyers, Jon Chapman and Tom Crone, will each get about £1.5m ($2.5 million). Add to that Les Hinton's payout, who, as the Daily Mail noted, is also "expected to receive a hefty sum."