Church share in News Corp sold

THE CHURCH of England has sold its stake in News Corporation over concerns about the governance of Rupert Murdoch’s empire.

The Church opted to divest of its £1.9m stake after learning of Murdoch’s plans to retain the chairmanship.

The church had called for “independent leadership” after the phone hacking scandal. It “was not satisfied” that News Corp had shown sufficient “commitment to implement necessary corporate governance reform”.