Little Jimmy Murdoch gets more cash that he doesn't need

Yeah! We're late with this one by about a week but we had to touch on it. James Murdoch, Rupert's youngest boy got a raise in pay for running daddy's business well. And why shouldn't he? Other CEO's get fat raises based on company performance. But does the raise in pay make any difference to one of the heirs to a multi-billion dollar fortune? We think not. Here is a run down on why Daddy gave Jimmy the raise: Since joining Sky, James Murdoch has consolidated the group's lead in pay-TV and secured another three-year deal for live coverage of Premiership football, as well as looking to diversify sources of revenue with ventures such as a new broadband offering. The company remains on track to hit its target of 10 million subscribers by the end of 2010. Last year revenues rose by 8% to £4.15bn, with pre-tax profits up 1% from a year earlier to £798m. It has nearly 8.2 million pay-TV subscribers and has just launched high-definition TV and broadband services. James Murdoch wins 23% pay rise for taking Sky to new heights [GU]