DOW JONES AND The Wall Street Journal were bought at the end of 2007 by Rupert Murdoch’s News Corporation. Murdoch has invested heavily since then to expand the Journal’s coverage. It’s debatable whether the paper’s long-treasured independence has been “lost,” but there is no sign to date that its integrity has been compromised. Dire predictions that Murdoch would use the Journal’s news columns to advance his commercial and political interests have not come to pass in the years since the acquisition. He is smart and has commented often on how foolish it would be to risk the credibility on which the paper’s success has always been founded.

As perhaps the sole survivor who worked closely with the man who did most to build the Journal, ...

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