Liberty Media Corp. paid Chief Executive Officer Greg Maffei $6.43 million last year, almost 50 percent more than Chairman John Malone.

Maffei's pay included $1 million in salary, a $625,000 bonus and $1 million in incentive pay, Englewood, Colorado-based Liberty said today in a regulatory filing. Malone, who appointed Maffei a year ago, got a total pay of $4.39 million.

Maffei, who started in February 2006, separated the QVC home-shopping channel from Liberty Capital to simplify the company's structure. He also engineered the $11 billion asset swap with Rupert Murdoch's News Corp. that will give Liberty control of DirectTV Group Inc., the largest U.S. satellite television service.

Shares of Liberty Capital fell $1.15 to $109.44 as of 4 p.m. New York time in Nasdaq Stock Market trading, and have jumped 56 percent since they began trading last May. Liberty Interactive (LINTA), up 14 percent in the same period, fell 35 cents today to $23.47. In the same period, the Nasdaq Composite Index has climbed 4.2 percent.

Liberty also gave Maffei, 46, options worth $3.3 million and $525,000 in perquisites, mostly for use of the corporate jet to commute to Denver from Seattle.

Malone, 66, received a salary of $2,600 and the same bonus as Maffei in 2006. He got no incentive pay and received options valued at $2.9 million, plus $667,000 in other compensation.

The price increase in Liberty's tracking stocks benefited Malone, who owns about $1.57 billion in four classes of tracking shares, or about a 5.1 percent economic interest in Liberty Media. He controls 32 percent of the voting interest

At today's close, Malone's holding in Liberty Capital's 807,000 Class A and 5.96 million Class B shares totaled about $750 million. His 4 million Class A and 29.8 million Class B shares of Liberty Interactive were valued at $823 million.

To contact the reporter on this story: Cecile Daurat in New York at cdaurat@bloomberg.net

To contact the editor responsible for this story: Emma Moody at emoody@bloomberg.net.