Publishers: The Newspaper's Role

"I think it is clear," said John Hay Whitney, publisher of the New York Herald Tribune and former U.S. Ambassador to the Court of St. James's, "that though I have worked at journalism, I am here primarily because I am a millionaire." But it was as a journalist that "Jock" Whitney had been invited to Colby College, in Waterville, Me., to accept Colby's honorary Elijah Lovejoy fellowship.* And it was very much as a journalist—and publisher—that Whitney spoke.

Something Lost. "It may be," Whitney said ruefully of the paper he bought five years ago, "that there are worse investments...

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