On any other campus, the new degree might have sounded fantastic. But not at the University of Southern California. As everyone knew, the man financing the degree and the four-year course behind it was none other than old Captain Allan ("Keep Moving") Hancock himself, the chairman of the board of trustees. Coming from him, a bachelor of science in the liberal arts with a major in television sounded perfectly natural.
Southern Californians have grown used to the captain's doings. At 76, he is a leathery, laconic philanthropist whose personal fortune has been a source of never-ending wonders. He is a marine biologist,...