The request – from the respected, high-brow journal The Tablet – came as Church of England leaders admitted they are retaining their £9 million shareholdings in News Corporation and BSkyB in the hope that they will rise on foot of further British newspaper closures in the group.
The Church Commissioners manage the Church of England’s £5.3 billion investments portfolio which includes shares in both News Corp and BSkyB, despite pressure from senior Anglicans to pull out of Murdoch-owned companies.
Church Estates Commissioner Andreas Whittam Smith – one of the founders in the mid-1980s of The Independent which then boasted of being free from the interference of proprietors such as Rupert Murdoch – said selling the Church’s £3.8 million share of News Corp and £5.3 million stake in BSkyB might mean it would miss out on a jump in their value – caused by News Corp selling off or closing its UK newspaper interests.
Last week, Mr Whittam Smith was reported to have told the Church of England’s General Synod in York: “A premature sale of News Corp and BSkyB might just be simply very bad timing. I don’t argue with anything that anybody is saying about them, but I think it must be possible that News Corp will get rid of its entire British holdings of newspapers. If it is to do so, first of all the problem would have vanished from the point of view of the parent company, and for us as investors, and the shares will certainly bounce up again. So it is a ticklish area.”
James Murdoch met Benedict XVI in private audience on September 18th last at Westminster Cathedral just before the Pope celebrated Mass. Pope Benedict’s predecessor gave his non-Catholic father, Rupert, a papal knighthood in 1999. He divorced his Catholic wife Anna – James’ mother – very shortly afterwards. The News Corp boss reciprocated the knighthood the following year with a $10 million donation to the Catholic cathedral in Los Angeles the following year.
Editor of The Tablet Catherine Pepinster last week asked readers and the British branch of the church if they really wanted memories of the Pope’s visit “to be sullied by links to the corrupt and the cruel”.
In her editorial she said: “A welcome gesture now would be to return the Murdoch money and find other ways of replenishing the church coffers.”

