The Wall Street Journal (WSJ) is an English-language international daily newspaper published by Dow Jones & Company in New York City with Asian and European editions. As of 2007, It has a worldwide daily circulation of more than 2 million, with approximately 931,000 paying online subscribers. It was the largest-circulation newspaper in the United States until November 2003, when it was surpassed by USA Today. Its main rival is the London-based Financial Times, which also publishes several international editions.
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The Wall Street Journal (WSJ) is an English-language international daily newspaper published by Dow Jones & Company in New York City with Asian and European editions. As of 2007, It has a worldwide daily circulation of more than 2 million, with approximately 931,000 paying online subscribers. It was the largest-circulation newspaper in the United States until November 2003, when it was surpassed by USA Today. Its main rival is the London-based Financial Times, which also publishes several international editions.
The Journal newspaper primarily covers U.S. and international business and financial news and issues—the paper's name comes from Wall Street, the street in New York City that is the heart of the financial district. It has been printed continuously since being founded July 8, 1889, by Charles Dow, Edward Jones, and Charles Bergstresser. The newspaper has won the Pulitzer Prize thirty-three times, including 2007 prizes for backdated stock options and for the adverse impact of China's booming economy.
The future of the Journal has been widely speculated on since the acquisition of Dow Jones by Rupert Murdoch's News Corporation. The announcement that managing editor Marcus Brauchli, a 20-year veteran of the newspaper and a former foreign correspondent, would step down reinvigorated speculation that Murdoch would make deeper changes in the newspaper. Although Brauchli elected to remain at News as a consultant, his departure from the top editorial job he held for barely a year (when he took over from the long-serving Paul Steiger) stoked rumors about Murdoch's plans.
Beginnings
Dow Jones & Company, publisher of the Journal, was founded in 1882 by reporters Charles Dow, Edward Jones and Charles Bergstresser. Jones converted the small Customers' Afternoon Letter into The Wall Street Journal, first published in 1889, and began delivery of the Dow Jones News Service via telegraph. The Journal featured the Jones 'Average', the first of several indexes of stock and bond prices on the New York Stock Exchange.
Journalist Clarence Barron purchased control of the company for US$130,000 in 1902; circulation was then around 7,000 but climbed to 50,000 by the end of the 1920s. Barron and his predecessors were credited with creating an atmosphere of fearless, independent financial reporting -- a novelty in the early days of business journalism.Crossen, Cynthia. "It All Began in the Basement of a Candy Store". The Wall Street Journal (New York), page B1, August 1, 2007.
Barron died in 1928, a year before Black Tuesday, the stock market crash that triggered the Great Depression in the United States. Barron's descendants, the Bancroft family, would continue to control the company until 2007.
