"The Church of England was not satisfied that News Corporation had shown, or is likely in the immediate future to show, a commitment to implement necessary corporate governance reform," the church said in a statement on Tuesday (Aug. 7). The church also said it was concerned that Murdoch is both chairman and chief executive of News Corp…. … The Church of England's three national investing bodies — the Church Commissioners, the Church of England Pensions Board and the CBF Church of England Funds — hold total assets worth more than eight billion pounds ($12.5 billion dollars). The church already excludes investment in companies involved in military products and services, pornography, alcoholic drinks, gambling, tobacco, human embryonic cloning and high interest lending.