The Wall Street Journal: Difference between revisions

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Already Journal editorial board's conservative bias is mentioned at the top, NYT or WaPo's liberal bias is not mentioned anywhere in their wiki pages. Publishing op-eds are different from promoting something. Also, repetitive and copied from https://en.wikipedia.org/wiki/The_Wall_Street_Journal#Science
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''The Wall Street Journal'' is one of the largest [[List of newspapers in the United States by circulation|newspapers in the United States by circulation]], with a circulation of about 2.475{{nbsp}}million copies (including nearly 1,590,000 digital subscriptions) {{as of|2018|06|lc=y}},<ref name="circ-june2018"/> compared with ''[[USA Today]]''{{'}}s 1.7{{nbsp}}million. The ''Journal'' publishes the luxury news and lifestyle magazine ''[[WSJ.|WSJ]],'' which was originally launched as a quarterly but expanded to 12 issues as of 2014. An online version was launched in 1996, which has been accessible only to subscribers since it began.<ref>{{Cite book|url=https://books.google.com/books?id=XnORAgAAQBAJ&pg=PA136 |title=Online News and the Public|last=Salwen|first=Michael B.|last2=Garrison|first2=Bruce|last3=Driscoll|first3=Paul D.|date=December 13, 2004|publisher=Routledge|isbn=9781135616793|language=en}}</ref>
''The Wall Street Journal'' is one of the largest [[List of newspapers in the United States by circulation|newspapers in the United States by circulation]], with a circulation of about 2.475{{nbsp}}million copies (including nearly 1,590,000 digital subscriptions) {{as of|2018|06|lc=y}},<ref name="circ-june2018"/> compared with ''[[USA Today]]''{{'}}s 1.7{{nbsp}}million. The ''Journal'' publishes the luxury news and lifestyle magazine ''[[WSJ.|WSJ]],'' which was originally launched as a quarterly but expanded to 12 issues as of 2014. An online version was launched in 1996, which has been accessible only to subscribers since it began.<ref>{{Cite book|url=https://books.google.com/books?id=XnORAgAAQBAJ&pg=PA136 |title=Online News and the Public|last=Salwen|first=Michael B.|last2=Garrison|first2=Bruce|last3=Driscoll|first3=Paul D.|date=December 13, 2004|publisher=Routledge|isbn=9781135616793|language=en}}</ref>


The newspaper is notable for its award-winning news coverage, and has won 37 [[Pulitzer Prize]]s (as of 2019).<ref>{{cite web|url=https://www.dowjones.com/products/wsj/|title=The Wall Street Journal|publisher=dowjones.com|accessdate=April 7, 2019}}</ref><ref>{{cite web|url=http://www.pulitzer.org/|title=The Pulitzer Prizes – What's New|publisher=pulitzer.org|archiveurl=https://web.archive.org/web/20080224184433/http://www.pulitzer.org/|archivedate=February 24, 2008|deadurl=no|accessdate=April 10, 2017}}</ref> The editorial pages of the ''Journal'' are typically conservative in their position.<ref>{{Cite web|url=https://www.nytimes.com/2017/03/22/business/media/wall-street-journal-editorial-trump.html|title=Wall Street Journal Editorial Harshly Rebukes Trump|first=Sydney|last=Ember|date=March 22, 2017|via=NYTimes.com}}</ref><ref>{{Cite web|url=https://thehill.com/homenews/media/424877-wall-street-journal-editorial-conservatives-could-live-to-regret-trump|title=Wall Street Journal editorial: Conservatives 'could live to regret' Trump emergency declaration|first=John|last=Bowden|date=January 11, 2019|website=TheHill}}</ref><ref>{{Cite web|url=https://www.cjr.org/business_of_news/wsj_trump_editorial_opinion.php|title=Unpacking WSJ’s ‘watershed’ Trump editorial|website=Columbia Journalism Review}}</ref>
The newspaper is notable for its award-winning news coverage, and has won 37 [[Pulitzer Prize]]s (as of 2019).<ref>{{cite web|url=https://www.dowjones.com/products/wsj/|title=The Wall Street Journal|publisher=dowjones.com|accessdate=April 7, 2019}}</ref><ref>{{cite web|url=http://www.pulitzer.org/|title=The Pulitzer Prizes – What's New|publisher=pulitzer.org|archiveurl=https://web.archive.org/web/20080224184433/http://www.pulitzer.org/|archivedate=February 24, 2008|deadurl=no|accessdate=April 10, 2017}}</ref> The editorial pages of the ''Journal'' are typically conservative in their position.<ref>{{Cite web|url=https://www.nytimes.com/2017/03/22/business/media/wall-street-journal-editorial-trump.html|title=Wall Street Journal Editorial Harshly Rebukes Trump|first=Sydney|last=Ember|date=March 22, 2017|via=NYTimes.com}}</ref><ref>{{Cite web|url=https://thehill.com/homenews/media/424877-wall-street-journal-editorial-conservatives-could-live-to-regret-trump|title=Wall Street Journal editorial: Conservatives 'could live to regret' Trump emergency declaration|first=John|last=Bowden|date=January 11, 2019|website=TheHill}}</ref><ref>{{Cite web|url=https://www.cjr.org/business_of_news/wsj_trump_editorial_opinion.php|title=Unpacking WSJ’s ‘watershed’ Trump editorial|website=Columbia Journalism Review}}</ref> The <nowiki>''</nowiki>Journal<nowiki>''</nowiki> editorial board has promoted fringe views on the science of climate change, acid rain, and ozone depletion, as well as on the health harms of second-hand smoke, pesticides and asbestos. <ref name="handful" />


==History==
==History==

Revision as of 03:03, 21 April 2019

The Wall Street Journal
Media of the United States
  • List of newspapers
  • The Wall Street Journal is a U.S. business-focused, English-language international

    News Corp. The newspaper is published in the broadsheet format and online. The Journal has been printed continuously since its inception on July 8, 1889, by Charles Dow, Edward Jones, and Charles Bergstresser
    .

    The Wall Street Journal is one of the largest

    WSJ, which was originally launched as a quarterly but expanded to 12 issues as of 2014. An online version was launched in 1996, which has been accessible only to subscribers since it began.[2]

    The newspaper is notable for its award-winning news coverage, and has won 37 Pulitzer Prizes (as of 2019).[3][4] The editorial pages of the Journal are typically conservative in their position.[5][6][7] The ''Journal'' editorial board has promoted fringe views on the science of climate change, acid rain, and ozone depletion, as well as on the health harms of second-hand smoke, pesticides and asbestos. [8]

    History

    Beginnings

    Front page of the first issue of The Wall Street Journal, July 8, 1889

    The first products of Dow Jones & Company, the publisher of the Journal, were brief news bulletins, nicknamed "flimsies", hand-delivered throughout the day to traders at the stock exchange in the early 1880s. They were later aggregated in a printed daily summary called the Customers' Afternoon Letter. Reporters Charles Dow, Edward Jones, and Charles Bergstresser converted this into The Wall Street Journal, which was published for the first time on July 8, 1889, and began delivery of the Dow Jones News Service via telegraph.[9] In 1896, The "Dow Jones Industrial Average" was officially launched. It was the first of several indices of stock and bond prices on the New York Stock Exchange. In 1899, the Journal's Review & Outlook column, which still runs today, appeared for the first time, initially written by Charles Dow.

    Journalist

    Barron's, the United States's premier financial weekly, was founded.[10] Barron died in 1928, a year before Black Tuesday, the stock market crash that greatly affected the Great Depression in the United States. Barron's descendants, the Bancroft family, would continue to control the company until 2007.[10]

    The Journal took its modern shape and prominence in the 1940s, a time of industrial expansion for the United States and its financial institutions in New York. Bernard Kilgore was named managing editor of the paper in 1941, and company CEO in 1945, eventually compiling a 25-year career as the head of the Journal. Kilgore was the architect of the paper's iconic front-page design, with its "What's News" digest, and its national distribution strategy, which brought the paper's circulation from 33,000 in 1941 to 1.1 million at the time of Kilgore's death in 1967. Under Kilgore, in 1947, the paper won its first Pulitzer Prize for William Henry Grimes's editorials.[10]

    In 1967, Dow Jones Newswires began a major expansion outside of the United States that ultimately put journalists in every major financial center in Europe, Asia, Latin America, Australia, and Africa. In 1970, Dow Jones bought the Ottaway newspaper chain, which at the time comprised nine dailies and three Sunday newspapers. Later, the name was changed to "Dow Jones Local Media Group".[11]

    1971 to 1997 brought about a series of launches, acquisitions, and joint ventures, including "

    WSJ., a luxury lifestyle magazine, was launched in 2008.[12]

    Internet expansion

    A complement to the print newspaper, The Wall Street Journal Online, was launched in 1996 and has allowed access only by subscription from the beginning.

    Audit Bureau of Circulations statements.[14] In 2007, it was commonly believed to be the largest paid-subscription news site on the Web, with 980,000 paid subscribers.[10] Since then, digital subscription has risen to 1.3 million as of September 2018, falling to number two behind the New York Times with 3 million digital subscriptions. [15] In May 2008, an annual subscription to the online edition of The Wall Street Journal cost $119 for those who do not have subscriptions to the print edition. By June 2013, the monthly cost for a subscription to the online edition was $22.99, or $275.88 annually, excluding introductory offers.[16] Digital subscription rates increased dramatically as its popularity increased over print to $443.88 per year, with first time subscribers paying $187.20 per year.[17]

    Vladimir Putin with Journal correspondent Karen Elliott House in 2002

    On November 30, 2004, Oasys Mobile and The Wall Street Journal released an app that would allow users to access content from the Wall Street Journal Online via their mobile phones.[18]

    Many of The Wall Street Journal news stories are available through free online newspapers that subscribe to the Dow Jones syndicate.[citation needed] Pulitzer Prize–winning stories from 1995 are available free on the Pulitzer[19] web site.

    In September 2005, the Journal launched a weekend edition, delivered to all subscribers, which marked a return to Saturday publication after a lapse of some 50 years. The move was designed in part to attract more consumer advertising.[10]

    In 2005, the Journal reported a readership profile of about 60 percent top management, an average income of $191,000, an average household net worth of $2.1 million, and an average age of 55.[20]

    In 2007, the Journal launched a worldwide expansion of its website to include major foreign-language editions. The paper had also shown an interest in buying the rival Financial Times.[21]

    Design changes

    The nameplate is unique in having a period at the end.[22]

    On September 5, 2006, the Journal included advertising on its front page for the first time. This followed the introduction of front-page advertising on the European and Asian editions in late 2005.[23]

    After presenting nearly identical front-page layouts for half a century—always six columns, with the day's top stories in the first and sixth columns, "What's News" digest in the second and third, the "A-hed" feature story in the fourth (with 'hed' being jargon for headline) and themed weekly reports in the fifth column[24] – the paper in 2007 decreased its broadsheet width from 15 to 12 inches while keeping the length at 2234 inches, to save newsprint costs. News design consultant Mario Garcia collaborated on the changes. Dow Jones said it would save US$18 million a year in newsprint costs across all The Wall Street Journal papers.[25] This move eliminated one column of print, pushing the "A-hed" out of its traditional location (though the paper now usually includes a quirky feature story on the right side of the front page, sandwiched among the lead stories).

    The paper still[

    caricatures, notably those of Ken Fallin, such as when Peggy Noonan memorialized then-recently deceased newsman Tim Russert.[27][28]
    The use of color photographs and graphics has become increasingly common in recent years with the addition of more "lifestyle" sections.

    The daily was awarded by the Society for News Design World's Best Designed Newspaper award for 1994 and 1997.[29]

    News Corporation and News Corp

    On May 2, 2007,

    News Corporation made an unsolicited takeover bid for Dow Jones, offering US$60 a share for stock that had been selling for US$33 a share. The Bancroft family, which controlled more than 60% of the voting stock, at first rejected the offer, but later reconsidered its position.[30]

    Three months later, on August 1, 2007, News Corporation and Dow Jones entered into a definitive merger agreement.

    flagship station WNYW (Channel 5) and MyNetworkTV flagship WWOR (Channel 9).[32]

    On December 13, 2007, shareholders representing more than 60 percent of Dow Jones's voting stock approved the company's acquisition by News Corporation.[33]

    In an editorial page column, publisher L. Gordon Crovitz said the Bancrofts and News Corporation had agreed that the Journal's news and opinion sections would preserve their editorial independence from their new corporate parent:[34]

    A special committee was established to oversee the paper's editorial integrity. When the managing editor Marcus Brauchli resigned on April 22, 2008, the committee said that News Corporation had violated its agreement by not notifying the committee earlier. However, Brauchli said he believed that new owners should appoint their own editor.[35]

    A 2007 Journal article quoted charges that Murdoch had made and broken similar promises in the past. One large shareholder commented that Murdoch has long "expressed his personal, political and business biases through his newspapers and television stations". Former Times assistant editor Fred Emery remembers an incident when "Mr. Murdoch called him into his office in March 1982 and said he was considering firing Times editor Harold Evans. Mr. Emery says he reminded Mr. Murdoch of his promise that editors couldn't be fired without the independent directors' approval. 'God, you don't take all that seriously, do you?' Mr. Murdoch answered, according to Mr. Emery." Murdoch eventually forced out Evans.[36]

    In 2011, The Guardian found evidence that the Journal had artificially inflated its European sales numbers, by paying Executive Learning Partnership for purchasing 16% of European sales. These inflated sales numbers then enabled the Journal to charge similarly inflated advertising rates, as the advertisers would think that they reached more readers than they actually did. In addition, the Journal agreed to run "articles" featuring Executive Learning Partnership, presented as news, but effectively advertising.[37] The case came to light after a Belgian Wall Street Journal employee, Gert Van Mol, informed Dow Jones CEO Les Hinton about the questionable practice.[38] As a result, the then Wall Street Journal Europe CEO and Publisher Andrew Langhoff was fired after it was found out he personally pressured journalists into covering one of the newspaper's business partners involved in the issue.[39][40] Since September 2011 all the online articles that resulted from the ethical wrongdoing carry a Wall Street Journal disclaimer informing the readers about the circumstances in which they were created.

    The Journal, along with its parent Dow Jones & Company, was among the businesses News Corporation spun off in 2013 as the new

    News Corp. In November 2016, in an effort to cut costs, the Journal's editor-in-chief, Gerard Baker, announced that layoffs and consolidation to its sections would take place. In the memo, the new format for the newspaper will have a "Business & Finance" section that will combine its current "Business & Tech" and "Money & Investing" sections. It will also include a new "Life & Arts" section that will combine its current "Personal Journal" and "Arena" sections. In addition, the current "Greater New York" coverage will be reduced and will move into the main section of paper.[41]

    Recent milestones

    • WSJ Live became available on mobile devices in September 2011.[42]
    • WSJ Weekend, the weekend newspaper, expanded September 2010, with two new sections: "Off Duty" and "Review".
    • "Greater New York", a stand-alone, full color section dedicated to the New York metro area, launched April 2010.[43][44]
    • The Wall Street Journal's San Francisco Bay Area Edition, which focuses on local news and events, launched on November 5, 2009, appearing locally each Thursday in the print Journal and every day on online at WSJ.com/SF.
    • WSJ Weekend, formerly called Saturday's Weekend Edition: September 2005.
    • Launch of Today's Journal, which included both the addition of Personal Journal and color capacity to the Journal: April 2002.
    • Launch of The Wall Street Journal Sunday: September 12, 1999. A four-page print supplement of original investing news, market reports and personal-finance advice that ran in the business sections of other U.S. newspapers. WSJ Sunday circulation peaked in 2005 with 84 newspapers reaching nearly 11 million homes. The publication ceased on February 7, 2015.[45]
    • Friday Journal, formerly called First Weekend Journal: March 20, 1998.
    • WSJ.com launched in April 1996.[46]
    • First three-section Journal: October 1988.
    • First two-section Journal: June 1980.

    Features and operations

    Since 1980, the Journal has been published in multiple sections. At one time, The Journal's page count averaged as much as 96 pages an issue,[citation needed] but with the industry-wide decline in advertising, the Journal in 2009–10 more typically published about 50 to 60 pages per issue.

    As of 2012, The Wall Street Journal had a global news staff of around 2,000 journalists in 85 news bureaus across 51 countries.[47][48] As of 2012, it had 26 printing plants.[47]

    Regularly scheduled sections are:

    • Section One – every day; corporate news, as well as political and economic reporting and the opinion pages
    • Marketplace – Monday through Friday; coverage of health, technology, media, and marketing industries (the second section was launched June 23, 1980)
    • Money and Investing – every day; covers and analyzes international financial markets (the third section was launched October 3, 1988)
    • Personal Journal – published Tuesday through Thursday; covers personal investments, careers and cultural pursuits (the section was introduced April 9, 2002)
    • Off Duty – published Saturdays in WSJ Weekend; focuses on fashion, food, design, travel and gear/tech. The section was launched September 25, 2010.
    • Review – published Saturdays in WSJ Weekend; focuses on essays, commentary, reviews and ideas. The section was launched September 25, 2010.
    • Mansion – published Fridays; focuses on high-end real estate. The section was launched October 5, 2012.
    • WSJ Magazine – Launched in 2008 as a quarterly, this luxury magazine supplement distributed within the U.S., European and Asian editions of The Wall Street Journal grew to 12 issues per year in 2014.

    In addition, several columnists contribute regular features to the Journal opinion page and

    OpinionJournal.com
    :

    • Weekdays – Best of the Web Today[49] by James Freeman
    • Monday – Americas by Mary O'Grady
    • Wednesday – Business World by
      Holman W. Jenkins Jr
    • Thursday – Wonder Land by Daniel Henninger
    • Friday – Potomac Watch by Kimberley Strassel
    • Weekend Edition – Rule of Law, The Weekend Interview (variety of authors), Declarations by Peggy Noonan

    In addition to these regular opinion pieces, on Fridays the Journal publishes a religion-themed op-ed, titled "Houses of Worship", written by a different author each week. Authors range from the Dalai Lama to cardinals.

    WSJ.

    WSJ. is The Wall Street Journal's luxury lifestyle magazine. Its coverage spans art, fashion, entertainment, design, food, architecture, travel and more. Kristina O'Neill is Editor in Chief and Anthony Cenname is Publisher.

    Launched as a quarterly in 2008, the magazine grew to 12 issues a year for 2014.[50] The magazine is distributed within the U.S. Weekend Edition of The Wall Street Journal newspaper (average paid print circulation is +2.2 million*), the European and Asian editions, and is available on WSJ.com. Each issue is also available throughout the month in The Wall Street Journal's iPad app.

    Penélope Cruz, Carmelo Anthony, Woody Allen, Scarlett Johansson, Emilia Clarke, Daft Punk, and Gisele Bündchen have all been featured on the cover.

    In 2012, the magazine launched its signature platform, The Innovator Awards. An extension of the November Innovators issue, the awards ceremony, held in New York City at Museum of Modern Art, honors visionaries across the fields of design, fashion, architecture, humanitarianism, art and technology. The 2013 winners were: Alice Waters (Humanitarianism); Daft Punk (Entertainment); David Adjaye (Architecture); Do Ho Su (Art); Nick D'Aloisio (Technology); Pat McGrath (Fashion); Thomas Woltz (Design).

    In 2013, Adweek awarded WSJ.[51] "Hottest Lifestyle Magazine of the Year" for its annual Hot List.

    • U.S. Circulation: Each issue of WSJ. is inserted into the weekend edition of The Wall Street Journal, whose average paid circulation for the three months ending September 30, 2013 was 2,261,772 as reported to the Alliance for Audited Media (AAM).

    Editorial page and political stance

    The Journal won its first two Pulitzer Prizes for editorial writing in 1947 and 1953. Subsequent Pulitzer Prizes have been awarded for editorial writing to

    Vermont Royster in 1984, Paul Gigot in 2000, Dorothy Rabinowitz in 2001, Bret Stephens in 2013, and Peggy Noonan
    in 2017.


    The Journal describes the history of its editorials:

    They are united by the mantra "free markets and free people", the principles, if you will, marked in the watershed year of 1776 by

    collectivists; and for individual autonomy against dictators, bullies and even the tempers of momentary majorities. If these principles sound unexceptionable in theory, applying them to current issues is often unfashionable and controversial.[citation needed
    ]

    Its historical position was much the same. As former editor William H. Grimes wrote in 1951:

    On our editorial page we make no pretense of walking down the middle of the road. Our comments and interpretations are made from a definite point of view. We believe in the individual, in his wisdom and his decency. We oppose all infringements on individual rights, whether they stem from attempts at private monopoly, labor union monopoly or from an overgrowing government. People will say we are conservative or even reactionary. We are not much interested in labels but if we were to choose one, we would say we are radical. Just as radical as the Christian doctrine.[52]

    Each

    Pilgrims saw when they arrived at the Plymouth Colony. The second is titled And the Fair Land, and describes the bounty of America. It was written by a former editor, Vermont C. Royster, whose Christmas article In Hoc Anno Domini has appeared every December 25 since 1949.[citation needed
    ]

    Two summaries published in 1995 by the

    criticized the Journal's editorial page for inaccuracy during the 1980s and 1990s.

    Economic views

    On September 12, 2018, the

    Census Bureau released data showing improvement in household income and the poverty rate during 2017, Trump's first year in office.[54] The Journal published an editorial that day attributing the improvement to Trump's purportedly superior economic policies, compared to Obama's.[55] However, The Journal's news division reported that both figures also showed improvement in 2015 and 2016,[56] and they improved to a greater degree in both those years than they did in 2017.[57][58]

    During the

    Robert Bartley, it expounded at length on economic concepts such as the Laffer curve, and how a decrease in certain marginal tax rates and the capital gains tax
    could allegedly increase overall tax revenue by generating more economic activity.

    In the economic argument of

    Chinese government
    about the peg. It opposed China's move to let the yuan gradually float, arguing that the fixed rate benefited both the United States and China.

    The Journal's views compare with those of the British publication

    budget deficit
    . (The Journal generally points to the lack of foreign growth, while business journals in Europe and Asia blame the low savings rate and concordant high borrowing rate in the United States).

    Political stance

    Mark Rutte, prime minister of the Netherlands, being interviewed by the Journal

    Robert L. Bartley (served 1972–2000) were especially influential in providing a conservative interpretation of the news on a daily basis.[60] Some of the Journal's former reporters claim that the paper has adopted a more conservative tone since Rupert Murdoch's purchase.[61]

    The editorial board has long argued for a pro-business immigration policy. In a July 3, 1984, editorial, the board wrote: "If Washington still wants to 'do something' about immigration, we propose a five-word constitutional amendment: There shall be

    open borders." This stand on immigration reform places the Journal in contrast to most conservative activists, politicians, and media publications for example National Review and The Washington Times, who favor heightened restrictions on immigration.[62]

    The Journal's editorial page has been seen as critical of many aspects of

    On October 25, 2017, the editorial board called for Special Counsel

    Hillary Clinton's 2016 presidential campaign of colluding with Russia.[67] In December 2017, the editorial board repeated its calls for Mueller's resignation.[68][69] The editorials by the editorial board caused fractures within the Wall Street Journal, as reporters say that the editorials undermine the paper's credibility.[68][69][70]

    Science

    The Journal editorial board has promoted fringe views on scientific matters, including climate change, acid rain, and ozone depletion, as well as on the health harms of second-hand smoke, pesticides and asbestos. Scholars have drawn similarities between the Journal's fringe coverage of climate change and how it used to reject the settled science on acid rain and ozone depletion.[8]

    Climate change denial

    The editorial board of The Wall Street Journal rejects the

    effects of global warming among several newspapers. It was also the most likely to present negative economic framing when discussing climate change mitigation policies, tending to taking the stance that the cost of such policies generally outweighs their benefit.[76]

    Other science coverage

    In the 1980s and 1990s, the Journal published numerous columns disputing and misrepresenting the science behind acid rain and the scientific consensus behind the causes of ozone depletion and the health harms of second-hand smoke, and opposed public policy efforts to curb acid rain, ozone depletion and second-hand smoke.[8][80][81] The Journal has also published columns attacking efforts to control pesticides and asbestos.[8] By the 2000s, the Journal editorial board recognized that efforts to curb acid rain through cap-and-trade had been successful.[80]

    Bias in news pages

    The Journal's editors stress the independence and impartiality of their reporters.[34] According to CNN in 2007, the Journal's "newsroom staff has a reputation for non-partisan reporting."[82]

    In a 2004 study, Tim Groseclose and Jeff Milyo argue the Journal's news pages have a pro-liberal bias because they more often quote liberal think tanks. They calculated the ideological attitude of news reports in 20 media outlets by counting the frequency they cited particular think tanks and comparing that to the frequency that legislators cited the same think tanks. They found that the news reporting of The Journal was the most liberal (more liberal than NPR or The New York Times). The study did not factor in editorials.[83] Mark Liberman criticized the model used to calculate bias in the study and argued that the model unequally affected liberals and conservatives and that "..the model starts with a very peculiar assumption about the relationship between political opinion and the choice of authorities to cite." [The authors assume that] "think tank ideology [...] only matters to liberals."[84]

    The company's planned and eventual acquisition by

    News Corp in 2007 led to significant media criticism and discussion[85] about whether the news pages would exhibit a rightward slant under Rupert Murdoch. An August 1 editorial responded to the questions by asserting that Murdoch intended to "maintain the values and integrity of the Journal."[86]

    Notable stories and Pulitzer Prizes

    The Journal has won 37 Pulitzer Prizes in its history. Staff journalists who led some of the newspaper's best-known coverage teams have later published books that summarized and extended their reporting.

    1987: RJR Nabisco buyout

    In 1987, a bidding war ensued between several financial firms for tobacco and food giant

    Barbarians at the Gate: The Fall of RJR Nabisco, which was turned into a film for HBO.[87]

    1988: Insider trading

    In the 1980s, then Journal reporter James B. Stewart brought national attention to the illegal practice of insider trading. He was awarded the Pulitzer Prize in explanatory journalism in 1988, which he shared with Daniel Hertzberg,[88] who went on to serve as the paper's senior deputy managing editor before resigning in 2009. Stewart expanded on this theme in his book, Den of Thieves.[citation needed]

    1997: AIDS treatment

    David Sanford, a Page One features editor who was infected with HIV in 1982 in a bathhouse, wrote a front-page personal account of how, with the assistance of improved treatments for HIV, he went from planning his death to planning his retirement.[89] He and six other reporters wrote about the new treatments, political and economic issues, and won the 1997 Pulitzer Prize for National Reporting about AIDS.[90]

    2000: Enron

    Jonathan Weil, a reporter at the Dallas bureau of The Wall Street Journal, is credited with first breaking the story of financial abuses at Enron in September 2000.[91] Rebecca Smith and John R. Emshwiller reported on the story regularly,[92] and wrote a book, 24 Days.

    2001: 9/11

    The Journal claims to have sent the first news report, on the Dow Jones wire, of a plane crashing into the

    South Brunswick, N.J., corporate campus, where the paper had established emergency editorial facilities soon after the 1993 World Trade Center bombing. The paper was on the stands the next day, albeit in scaled-down form. Perhaps the most compelling story in that day's edition was a first-hand account of the Twin Towers' collapse written by then-Foreign Editor John Bussey,[94] who holed up in a ninth-floor Journal office, literally in the shadow of the towers, from where he phoned in live reports to CNBC as the towers burned. He narrowly escaped serious injury when the first tower collapsed, shattering all the windows in the Journal's offices and filling them with dust and debris. The Journal won a 2002 Pulitzer Prize in Breaking News Reporting for that day's stories.[95]

    The Journal subsequently conducted a worldwide investigation of the causes and significance of 9/11, using contacts it had developed while covering business in the Arab world. In

    Al Qaeda leaders had used to plan assassinations, chemical and biological attacks, and mundane daily activities. The encrypted files were decrypted and translated.[96] It was during this coverage that terrorists kidnapped and killed Journal reporter Daniel Pearl
    .

    2007: Stock option scandal

    In 2007, the paper won the Pulitzer Prize for Public Service, with its iconic Gold Medal,[97] for exposing companies that illegally backdate stock options they awarded executives to increase their value.

    2008: Bear Stearns fall

    Kate Kelly wrote a three-part series that detailed events that led to the collapse of Bear Stearns.[citation needed]

    2010: McDonald's health care

    A report

    Patient Protection and Affordable Care Act. McDonald's called the report "speculative and misleading", stating they had no plans to drop coverage.[99] The Wall Street Journal report and subsequent rebuttal received coverage from several other media outlets.[100][101][102]

    2015: Malaysia Prime Minister Najib Razak and 1MDB

    In 2015, a report

    1MDB, a Malaysian state investment company, to the personal accounts of Malaysia Prime Minister Najib Razak at AmBank
    , the fifth largest lender in Malaysia. Razak responded by threatening to sue the New York-based newspaper.

    The report prompted some governmental agencies in Malaysia to conduct an investigation into the allegation.

    2015–present: Theranos investigation

    In 2015, a report written by the Journal's

    wire fraud and conspiracy charges in relation to her role as CEO of Theranos.[109]

    Elizabeth Holmes asked Rupert Murdoch —- who at the time was a major investor in Theranos and owner of the Journal — to "personally kill" an investigative piece being written about Theranos. Murdoch refused, instead stating that he "had confidence in editors to handle the truth - whatever it may be". Murdoch went on to lose approximately $100 million in his investments in Theranos. [110]

    2018–present: Investigation into Stormy Daniels payment

    On January 12, 2018 Michael Rothfeld and Joe Palazzolo reported in the Wall Street Journal that during the [[2016 United States presidential election |2016 Presidential Campaign]] then candidate Donald Trump's personal lawyer, Michael Cohen coordinated a $130,000 payment to Stormy Daniels for her silence regarding an alleged affair. In subsequent reports, the method of payment and many other details were extensively covered. In April of that year, FBI agents stormed the home of Michael Cohen seizing records related to the transaction. [111] In August 21, 2018, Cohen pleaded guilty to eight counts including campaign finance violations in connection with the Daniels payment. [112] The coverage earned them the 2019 Pulitzer Prize in national reporting.[113]

    See also

    References

    1. ^ a b "Form 10-K June, 2018". SEC. Retrieved February 12, 2018. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
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    Further reading

    • Dealy, Francis X. The power and the money: Inside the Wall Street Journal (Birch Lane Press, 1993).
    • Douai, Aziz, and Terry Wu. "News as business: the global financial crisis and Occupy movement in the Wall Street Journal." Journal of International Communication 20.2 (2014): 148-167.
    • Merrill, John C. and Harold A. Fisher. The world's great dailies: profiles of fifty newspapers (1980) pp 338–41
    • Rosenberg, Jerry M. Inside the Wall Street Journal: The History and the Power of Dow Jones & Company and America's Most Influential Newspaper (1982) online
    • Sakurai, Takuya. "Framing a Trade Policy: An Analysis of The Wall Street Journal Coverage of Super 301." Intercultural Communication Studies 24.3 (2015). online
    • Steinbock, Dan. "Building dynamic capabilities: The Wall Street Journal interactive edition: A successful online subscription model (1993–2000)." International Journal on Media Management 2.3-4 (2000): 178-194.
    • Yarrow, Andrew L. "The big postwar story: Abundance and the rise of economic journalism." Journalism History 32.2 (2006): 58+ online

    External links