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James Murdoch declines a $6m bonus

But Rupert Murdoch accepts a $12.5m bonus and a total pay package of $33.3m

Displaying a a hitherto rare sense of self-awareness, James Murdoch has announced that "in light of the current controversy" he will decline a $6m (£3.7m) bonus from News Corp. "I feel that declining the bonus is the right thing to do," he said.

His father, however, accepted a $12.5m (£7.7m) bonus as part of a $33.3m (£20.5m) remuneration package, up 47 per cent on the previous year. James isn't doing too badly either. His total pay package rose 74 per cent to $17m. Chase Carey, Murdoch's extravagently moustachioed no. 2, took home $30m in the year to 30 June, including a $10m bonus.

It's a big week for Murdoch Jr, with former News of the World editor Colin Myler and Tom Crone, the paper's former chief lawyer, both of whom have accused him of misleading MPs, appearing before the media select committee on Tuesday. Murdoch has reportedly cancelled a planned trip to Asia to monitor their evidence. Both Myler and Crone will be legally restricted in what they can divulge but the sword of Damocles is set to swing even closer to Murdoch.