CEO of Sky to get $50M from takeover
Sky Chief Executive Officer Jeremy Darroch will take home as much as $50 million after steering the British pay-TV company into the arms of Comcast Corp.
The 56-year-old sold his 775,772 shares in Sky worth $17.6 million to the U.S. cable giant as it prepares to complete the $39 billion takeover, according to a filing Friday. Darroch will also cash in on previously awarded bonus shares.
Sky’s value soared during a protracted bidding war involving Rupert Murdoch’s 21st Century Fox, Walt Disney Co. and Comcast that was settled by an auction last month.
Darroch, the grandson of a miner, was already one of the best paid CEOs in Britain, earning$51.3 million in the past three years. He helped build Sky into a pan-European broadcaster with 23 million customers, luring customers with live Premier League soccer and hit dramas.
He joined as chief financial officer in 2004 and has led the company since 2007. Following September’s auction, Darroch had overseen a near tripling in the Sky share price.