News Corporation CEO Rupert Murdoch's total compensation fell by 6 per cent to $16.8m in fiscal 2010, from $18m a year ago.
The news emerged from a News Corp securities filing with US regulators on Tuesday.
Murdoch's annual pay packet this fiscal is understood to be the lowest since 2003, despite News Corp making profits of $2.5bn,
While his salary and new stock and option grants, respectively, remained unchanged at $8.1m and $4.1, his performance-based pay fell nearly 20 per cent to $4.4m.
The pay for his son James Murdoch, who runs News Corp's European and Asian operations, also dropped, by 13 per cent to $8.84m. This is excluding the £75,000 he receives annually as executive chairman of Sky television, which is partly-owned by News Corp.
The cuts are understood to be a result of the dismal performance of Murdoch's UK newspapers. His plan to reverse the fortunes of print publications by charging for online content is yet to pay-off.
However, News Corp's chief operating officer, Chase Carey, received $23.1m as total remuneration.