HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Church of England Loses F...
Introducing Discussionist: A new forum by the creators of DU

Tue Aug 7, 2012, 04:45 PM

Church of England Loses Faith in Shares of Murdoch’s News Corp [View all]

Source: Reuters

Church of England loses faith in shares of Murdoch’s News Corp

By Reuters Staff AUGUST 7, 2012

The Church of England has sold all shares in News Corporation held in its investment portfolios on ethical grounds, after a phone hacking scandal at the media empire’s UK operations.

The Church, which has three national investing bodies, sold the shares worth 1.9 million pounds ($2.97 million) after its Ethical Investment Advisory Group (EIAG) was not satisfied with the level of corporate governance reform at Rupert Murdoch’s media conglomerate following a year of dialogue.

“Last year’s phone hacking allegations raised some serious concerns amongst the Church’s investing bodies about our holding in News Corporation,” Andrew Brown, Secretary of the Church Commissioners said in a statement on Tuesday.

“The EIAG put forward a number of recommendations around how corporate governance structures at News Corporation could be improved. However the EIAG does not feel that the company has brought about sufficient change and we have accepted its advice to disinvest.”

Read more: http://blogs.reuters.com/faithworld/2012/08/07/church-of-england-loses-faith-in-shares-of-murdochs-news-corp

4 replies, 1592 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 4 replies Author Time Post
Reply Church of England Loses Faith in Shares of Murdoch’s News Corp [View all]
Hissyspit Aug 2012 OP
DURHAM D Aug 2012 #1
dipsydoodle Aug 2012 #2
hrmjustin Aug 2012 #3
awoke_in_2003 Aug 2012 #4