MUMBAI: News corp owned Shine International CEO Camilla Hammer has called it quits for personal reasons. Nadine Nohr will be the interim CEO.

Shine Group CEO Alex Mahon said, "We are sorry to see Camilla leave but understanding and respectful of her decision to do so. She has steered Shine International to be on course for another record year of growth, buoyed by successful sales campaigns for recent scripted properties, including the second series of the critically acclaimed ‘The Hour‘ and forthcoming Frank Spotnitz-penned ‘Hunted from Kudos‘, in addition to the ongoing strong performances of our global formats such as ‘MasterChef‘.‘

Nadine steps into the role not only as an incredibly experienced international distribution executive but one well known to both the Shine team and clients given her three years of consulting with it."

MUMBAI: News Corporation has completed its $2 billion acquisition of Australia media company Consolidated Media Holdings, which holds 50 per cent of Fox Sports and 25 per cent of Foxtel.

News Corp had on 20 June made a $2 billion bid to wrest control of CMH which would give it a greater share of Australia‘s pay television market. CMH‘s board backed the offer in the absence of a higher bid.

The buyout will see the exit of Australian billionaire James Packer from media business as he sets out for a bigger play in the gambling business. Packer, the son of late media baron Kerry Packer, held 50.1 per cent stake in the CMH.

The deal will give News Corp‘s Australian subsidiary News Limited a complete ownership of Fox Sports, an equal joint venture partnership between Consolidated Media and News Corp, and a 50 per cent stake in pay TV operator Foxtel, which is half owned by Australian telecom and media company Telstra Corporation with News Corp and CMH holding a 25 per cent stake each.

As per the agreement, News Limited and News Pay TV Financing (News), 100 per cent owned subsidiaries of News Corporation, will acquire CMH for $3.45 cash per share by way of a scheme of arrangement.

The scheme consideration of $3.45 represents an implied multiple of 9.4x EV/Ebitda based on a proportional consolidation of CMH‘s main investments in Foxtel and Fox Sports.

CMH‘s major shareholders CPH executive chairman James Packer said, "I am delighted that CMH and News have reached agreement on the terms and conditions, and as I said in June, CPH will support the Scheme in the absence of a superior cash proposal. In my view, this is a great outcome for CMH shareholders and for News and it reflects a fair price."

The implementation of the Scheme is subject to a number of customary conditions including CMH shareholder and Court approvals.

MUMBAI: The Church of England, the mother church of the worldwide Anglican Communion, has decided to give up its stake in the Rupert Murdoch-owned News Corp due to ethical concerns arising out of phone-hacking scandal.

The church said it had sold its $2.9 million because it was not convinced by News Corp‘s efforts to reform its corporate governance.

The Church hold assets worth more than ?8 billion through its three national investment bodies, the Church Commissioners for England, the Church of England Pensions Board, and the CBF Church of England Funds.

"The Church of England first raised concerns with the board of News Corporation in the aftermath of the phone-hacking allegations that surfaced in July 2011," the Church of England said in a statement.

"After a year of dialogue between the company and the EIAG (the Church‘s Ethical Investment Advisory Group), 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."

As per church investment guidelines it can‘t buy stakes in companies that provide military products or services, pornography, alcohol, gambling, tobacco, human embryonic cloning or high-interest-rate lending.

Meanwhile, the Scotland Yard has arrested a journalist and a police officer as part of a probe in the phone-hacking controversy on suspicion of conspiracy to corrupt and conspiracy to cause misconduct in a public office.

The phone hacking scandal relates to controversy at the now defunct News of the World and Sun news papers wherein journalists indulged in phone hacking, police bribery, and exercising improper influence in the pursuit of publishing stories.

MUMBAI: US media conglomerate News Corp has announced that its Group Director, Strategy and Corporate Affairs, Europe and Asia Matthew Anderson will step down from his position in London effective 31 March 2012.

Anderson will fulfil plans to return to the San Francisco Bay Area with his family and pursue new opportunities. He will continue his relationship with News Corp. as a senior advisor to the company focusing on select international initiatives and relevant directorships.

News Corp. chairman, CEO Rupert Murdoch said, "For more than a decade,Matthew has made a valuable contribution to building News Corporation?s businesses in Europe, Asia and the Middle East. He is a tenacious and effective executive whose counsel and skills have made a real difference".

Anderson began working with Star TV and News Corporation in 2000 when he was chief executive for the Asia Pacific region of Ogilvy Public Relations Worldwide based in Hong Kong.

In 2005, he joined British Sky Broadcasting, where he served as Group Director, Communications and Brand Marketing, playing a role in developing Sky?s ?Believe in better? brand positioning and ?The Bigger Picture? social and environmental initiatives. Sky became the world?s first carbon neutral
media company - a target that News Corporation achieved several years later. Matthew joined News Corporation in April 2008 with a broad remit across Europe and Asia. In addition to his executive responsibilities, Anderson represents News Corp on the Boards of Moby Group and Sky Pro Cycling.

News Corp Deputy COO and Chairman and CEO International James Murdoch said, "Matthew has played a key role in many of our most important projects for more than ten years. He has ranged across varied and wide terrain, and has been a versatile, resourceful and highly insightful colleague. The whole team will miss him greatly. Upon his long planned return to California with his family we wish him the very best and look forward to the next chapter."