The split of News Corporation will come with its benefits for Rupert Murdoch, who will receive a 15 per cent pay rise. Mr Murdoch's remuneration will jump close to $US4 million to $US28.3 million. In June, News Corp will break up into two separate companies, with "new News Corp" holding publishing assets, including Australia, and 21st Century Fox holding the company's more successful film and television assets. In a filing to the US Securities Exchange Commission, News Corp justified the increase as "appropriate given Mr Murdoch's responsibilities associated with two public companies." Since officially confirming it was considering a restructure in late June last year, News Corp shares have jumped 42.1 per cent to $31.20. Mr Murdoch's pay rise comes after $US347 million in legal fees and settlements relating to the phone hacking scandal at its now defunct British newspaper, News of the World. At the company's annual general meeting last October, Mr Murdoch, 82, saw off moves from dissident shareholders, including Australian pension fund First Super, to remove him as chairman. Before the meeting, he was on the front foot, taking to Twitter to vent at seemingly angry investors. Busy preparing for next week's company AGM. Signs pretty peaceful, but any shareholders with complaints should take profits and sell!" he said. The majority of independent shareholders voted for the separation of Mr Murdoch's dual role as chief executive and chairman but the Murdoch family, controlling nearly 40 per cent of voting shares, easily swept the move aside. I'm not surprised by much that happens at News Corporation. They've always been very upfront. It's Rupert Murdoch's show, he's executive chairman, he's the largest voting shareholder and they've never really disguised that fact," said Martin Lawrence, research director at governance advisers Ownership Matters. You know that as a shareholder you have little capacity to change it unless the Murdoch family decides to sell down its voting stake. It's always been very transparent what the rules are going in.