The Church of England has sold News Corporation shares worth £1.9m after the company failed to address ethical concerns raised in the aftermath of the phone-hacking scandal.
Rupert Murdoch's media conglomerate joins the Church's blacklist which includes companies involved in military products and services, pornography, alcoholic drinks, gambling, tobacco, human embryonic cloning and high interest rate lending. The Church of England Pensions Board and the Church Commissioners sold their shares following advice from the internal Ethical Investment Advisory Group, which has been engaging with News Corp since July 2011. The Church felt the company failed to address concerns raised in the aftermath of allegations that employees at News of the World hacked into...
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