History of the WSJ

The Wall Street Journal is published by Dow Jones & Company, which was first founded in 1882. Edward Jones was among those who founded it, converting it from the "Customers Afternoon Letter" to the Wall Street Journal. The change was dramatic in terms of the sheer size of the publication. It happened in 1889 and included what was called the "Jones Average". It included an index of stock and bond prices which corresponded to the New York Stock Exchange. A turning point in the WSJ was when Clarence Barron, renowned journalist, obtained control. He paid $130,000 and took over in 1902.

At first circulation for the publication was stuck at a low 7,000. However, it quickly jumped to 50,000 by the late 1920's. It was said at the time that Barron was responsible for creating a financial publication which was both truthful and fearless. It was an independent voice which was viewed as a novelty at the time. Exactly one year before Black Tuesday occurred, Clarence Barron died. This financial disaster had a very significant impact on the Wall Street Journal and those descendants of the family who came to control it all the way till 2007.

The Wall Street Journal took on a more modern look and appeal by the 1940s. This is mostly because of the massive financial expansion which was going on during that ti9me in the city of New York. Bernard Kilgore became the managing editor in 1941. By 1945, he had become the CEO of the entire company, and ended his 25 year career with the publication in 1966.

In the 1990s, things changed drastically for the WSJ. With the increase of costs for newsprint, as well as a marked decline in advertising, the publication was not doing well. 1997 was the year that the Dow Jones Company experienced its first annual loss. All of this brought about the notion that the WSJ was in need of some new direction and major changes.

In 2004, there was another turning point for the publication. With mobile technology growing in popularity, an application was created for people to check on their mobile phone. This brought an almost unimaginable change from when it first was started in the early 1900s. The last major change to the publication was when News Corp. took over after a reluctant Dow Jones finally decided to give in to the merger proposal. The Bancroft family finally relinquished power, giving Rupert Murdoch another addition to his already massive news empire.