Major shareholder urges News Corp to sell newspapers

Third-biggest shareholder urges Murdoch to sell off "all the newspaper business".

News Corporation chairman Rupert Murdoch has been urged by its third-biggest shareholder to sell off its newspaper businesses.

In an interview with the Sunday Telegraph, Kevin Holt, a senior fund manager at the investment management company Invesco, said he wants the company to sell "all the newspaper businesses," adding: "It's a digital world now and the competitive advantage that newspapers had has been competed away."

The company - whose papers include the Sun, the Times and the Sunday Times in the UK and the Wall Street Journal and New York Post in the US - has been widely criticised for its handling of the phone-hacking scandal which led to the eventual closure of the News of the World in July.

Read more at the Press Gazette.