NEWS

Church of England Threatens to withdraw £4m investment from News of the World

EIAG chairman John Reynolds has insisted that the board of News Corp takes 'all necessary measures' to instil investor confidence in the ethical and governance standards of News Corp. - Irishtimes

2011/07/09 03:09 PM

By: gop

The Church of England has now joined the foray surrounding the News of The World (NoTW) fiasco by letting the world know it has a £4m investment in a tabloid newspaper, which has been unofficially rename "News of the Screws". The question is not only why did Prime Minister, David Cameron use his government to support the former editor of NoTW, Andy Coulson who resigned following allegations of phone hacking and bribery, but why does the Church of England support such an entity.

The Church of England entered the row over phone hacking with a threat to pull nearly £4 million in investments from News Corporation who publishes NoWT, if it fails to hold "senior managers" to account over the scandal.

What news will form the news of the world tomorrow? Will Satan be the next pope? This surely would not surprise anyone after the revelations of this week.

The Church's ethical investment advisory group (EIAG) said it had written to News Corp describing the behaviour of the News of the World as "utterly reprehensible and unethical". This is strange because these allegations came to light even at the time that Andy Coulson resigned from the company in 2007, and may the church be reminded that these are only allegations.

It is totally a wonder that the Church of England has invested its hard earned money behind such a tabloid, and is now calling for heads to roll, because its investment might be threatened, and its hand has been found in the cookie jar.

According to Wikipedia the company which the Church of England partially owns has been involved in controversial matters including, Anti-paedophile campaign (2000), a Phone hacking scandal, and links to police corruption.

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