The Journal‘s credibility is the reason that it is valuable. If its readers, especially its many investor-class Wall Street readers, start to sniff out that the news in the paper about, say, China, is not straight, that it smells of hidden agendas, they’ll move to The Financial Times faster than you can click a mouse. They want to make money and they want the straight story. If Murdoch follows his pattern of bending to power at the Journal, he’ll have to do it very slowly and very subtly. We’re all watching.
Here, the ability to provide a “straight story” is considered to be influential. It adds value, creating a good reputation, and so enhancing its influence.
As the boy who cried wolf found, when trust is gone, no-one listens and you have zero influence, even when you are right.