Anglican leaders sell Murdoch firm's shares
8/11/2012LONDON -- The Church of England has sold its shares in Rupert Murdoch's News Corp. over its handling of a phone hacking scandal at one of its newspapers.
Anglican leaders said in a statement this week that they were not satisfied that News Corp. was likely to show a commitment to reform its business practices following evidence of illegal eavesdropping at the defunct News of the World newspaper.
Church official Andrew Brown said the decision to sell the $3 million in News Corp. shares followed a year of inconclusive dialogue between News Corp. executives and members of the church's ethical investment committee.