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Article

9 Jul 2011

Author:
Jodie Ginsberg, Reuters [USA]

Church of England threatens to pull News Corp investment [UK]

The Church of England has threatened to pull its $6 million investment in Rupert Murdoch's News Corp over the phone hacking scandal at its News of the World paper…the move is an indication of the wider repercussions from the scandal for the media giant…The Church said…its Ethical Investment Advisory Group (EIAG) wrote to News Corp on Friday, saying the behavior of the paper, accused of illegally accessing countless voicemail messages and making payments to police, had been utterly "reprehensible and unethical." "While the EIAG welcomes the decision to close the News of the World, this action is not a sufficient response to the revelations of malpractice at the paper,"…A spokesman for the Church said: "There must always in the background be the possibility that, after discussions with the senior management, if you are not influencing what they do or how they do it, there must always be the possibility that we will disinvest. [also refers to Vedanta]