First major story for post-purchase WSJ...

The Wall Street Journal has scored a hell of a scoop. Karl Rove, in an interview with WSJ editorial editor Paul Gigot, announced he is resigning from the White House. Rove will step down as White House deputy chief of staff effective August 31 and return to Texas. We presume this means Rove will no longer be publicly involved in the Bush administration and that somewhere in Austin, James Moore and Wayne Slater are letting out yips of joy right now.

A formal statement by the White House will be made at 11:35am today; both the Times and CNN credit the Journal with breaking the story.

— Neal Ungerleider

Update: Statement from deputy White House press secretary Dana Perino: "Obviously it's a big loss to us... He is a great colleague, good friend and brilliant mind. Rove wouldn't be going if he wasn't sure this is the right time to be giving more time to his family."