New York's New J-School

It may not have the history or prestige of Columbia, but it doesn't come with the sticker shock either

Stephen B. Shepard was nearing the end of a 20-year reign as editor in chief of BusinessWeek in 2004 when an offer crossed his desk: to be the first dean of the City University of New York's Graduate School of Journalism.

It had been more than 40 years since Mr. Shepard had been in a CUNY classroom — as an undergraduate at City College. But over the years, he had

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