It's often said--sometimes scornfully, sometimes admiringly, but always with a hint of awe--that Rupert Murdoch has exercised more power over a longer tenure than any business leader in the world today. The chairman and CEO of News Corp. is too politic to make such a claim himself, but he tacitly acknowledges its validity. When asked what he has learned about being so powerful in the U.S., he smiles and says, "You make a lot of enemies."
Murdoch's critics are certainly legion. Most of them are fixated, in this election year, on Fox News and its conservative agenda. But in terms of...