Church of England sells off NewsCorp shares
The Church of England has sold its $3 million worth of shares in Rupert Murdoch's News Corp due to concerns about the company's ethics.
RNS:
"The Church of England was not satisfied that News Corporation had shown, or is likely in the immediate future to show, a commitment to implement necessary corporate governance reform," the church said in a statement on Tuesday (Aug. 7).The church also said it was concerned that Murdoch is both chairman and chief executive of News Corp....
...The Church of England's three national investing bodies -- the Church Commissioners, the Church of England Pensions Board and the CBF Church of England Funds -- hold total assets worth more than eight billion pounds ($12.5 billion dollars).
The church already excludes investment in companies involved in military products and services, pornography, alcoholic drinks, gambling, tobacco, human embryonic cloning and high interest lending.
