MySpace Founders Asking News Corp for Another $50M
How about some salary negotiation brinkmanship to start off your day? Better yet, how would you like the idea of getting paid $12.5 million a year?
That’s the amount that MySpace co-founders Chris DeWolfe and Tom Anderson are asking from Rupert Murdoch and corporate parent News Corp. According to Deadline Hollywood Daily, the social network creators have asked for a combined $50 million over 2-years, which would make them the highest paid execs at the company.
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.
Insiders say they have little chance of getting the amount they want and News Corp has reportedly countered with $7.5 million each a year for two years.
Take the money!
With Facebook nipping at their heals, a potential new boss (in Yahoo) and growth which is likely to slow (once you get to 80% share, there’s little room to grow), I’d be inclined to take the money, ride out the next two years, then make my next move.