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News Corp. Sets Klein’s Salary at $2 Million a Year

Joel Klein, the former New York City schools chancellor, will receive a base salary of $2 million a year in his new job at News Corp. as executive vice president in the Office of the Chairman.

Klein, who will also serve as chief executive officer of the company’s new education division, signed a contract expiring in December 2015, New York-based News Corp. said today in a regulatory filing. He’ll receive a $1 million signing bonus and be eligible for an annual bonus of at least $1.5 million.