 He turned around the financial performance of the "Journal" to become strongly profitable after earlier losing money.He also led the creation of the online news service Factiva, which he chaired for several years, and initiated the acquisition of publicly traded MarketWatch as well as specialist services Private Equity Analyst, VentureOne and VentureWire, London-based news franchise eFinancial News and Frankfurt-based newswire VWD.He oversaw the growth of "The Wall Street Journal" Online to the world's largest paid subscription news web site, with over one million paying subscribers at the end of 2007.