Rupert Murdoch has taken a more than 40 per cent pay cut in his role as executive chairman of News Corporation.

In fiscal 2015, Mr Murdoch took home a total package worth nearly $US5.1 million ($7.2 million) from News Corp, down from $US8.7million the previous year.

Rupert Murdoch has stepped down as chief executive of 21st Century Fox but remains executive chairman of the company. Credit:Christopher Pearce

Mr Murdoch's base salary remained the same at $US1 million, with a further $US4.1 million in stock awards and bonuses, which was down from about $US7.7 million in the 2014 fiscal year.

However, the package does not include what Mr Murdoch will have taken home for his role as chairman and chief executive of 21st Century Fox – the entertainment part of his media empire.