 Image from a quicklink (Image by Unknown Owner) Details DMCA | Fears that Rupert Murdoch group has failed to learn corporate governance lessons prompt church to offload £1.9m stake. The Church of England has sold all of its shares in News Corporation because it fears Rupert Murdoch's media empire has failed to learn lessons from the phone-hacking scandal.
The church first raised concerns about the News of the World's "reprehensible and unethical" conduct more than a year ago, and had been trying to force News Corp into improving its corporate governance. However, the CofE on Tuesday said in a statement that it 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's investment bodies, the Church Commissioners and the Church of England Pensions Board, announced the sale of their total £1.9m shareholdings... |
Read the rest of the story HERE:
At www.guardian.co.uk
At www.guardian.co.uk
