Journal Media Group

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Journal Media Group
Public
Traded as NYSEJMG
Industry Media
Founded Milwaukee, Wisconsin, U.S. (1882)
Headquarters Milwaukee, Wisconsin
Area served
Nationwide
Key people
Revenue $400 million (2012)[1]
$60 million (2012)[1]
$33.3 million (2012)[1]
Total assets $625.8 million (2012)[1]
Total equity $205.5 million (2012)[1]
Website http://www.journalmediagroup.com/

Journal Media Group (formerly Journal Communications) is a Milwaukee, Wisconsin-based newspaper publishing company. The company's roots were first established in 1882 as the owner of its namesake, the Milwaukee Journal, and expanded into broadcasting with the establishment of WTMJ radio and WTMJ-TV, and the acquisition of other television and radio stations.

On April 1, 2015, the E.W. Scripps Company acquired Journal Communications, and spun out the publishing operations of both Scripps and Journal into a new company known as Journal Media Group. It is led by Timothy E. Stautberg—the former head of Scripps' newspaper business, joined by previous Journal CEO Stephen J. Smith as a chairman.

History[edit]

Journal Communications building

The Milwaukee Journal was started in 1882, in competition with four other English-language, four German- and two Polish-language dailies. It launched WTMJ-AM (620) in 1927, and WTMJ-TV (Channel 4) in 1947. The Journal Company, until then primarily owned by local interests, introduced an employee stock trust plan in 1937, and as a result most Journal stock was eventually held by its employees (under certain restrictions). A small bloc of Journal stock was given to Harvard to fund the Nieman Fellowship program for promising journalists, and another bloc was still held by the original owning families until the IPO.

The Milwaukee Sentinel, begun in 1837 as a weekly published by city co-founder Solomon Juneau, passed through the hands of several owners before being sold to the Hearst Corporation in 1924. Hearst operated the Sentinel until 1962, when, following a long and costly strike, it abruptly announced the closing of the paper. Although Hearst claimed that the paper had lost money for years, The Journal Company, concerned about the loss of an important voice (and facing questions about its own dominance of the Milwaukee media market), agreed to buy the Sentinel name, subscription lists, and goodwill associated with the name. In 1995 the Journal and Sentinel were consolidated. The new Journal Sentinel then became a seven-day morning paper. In 1964, Journal Communications bought a part interest in Perry Printing, a commercial printer specializing in printing magazines, catalogs and free-standing inserts for publications.[2] A decade later, in 1974, it purchased the remaining shares of the company. In 1995, it sold the operation (which by then had about 1000 employees and sales of $123 million) to the Milhous Group of California.[3]

Former logo of the company

In 1968, the Midwestern Relay cable transmission division of the Journal Company was developed out of broadcast-related expertise; in 1991, Midwestern Relay acquired Norlight, a fiber-optic private carrier, and adopted the Norlight name. On February 26, 2007 Journal Communications sold the regional telecommunications provider to privately held Q-Comm Corp of Delaware. Upon closing the transaction, Q-Comm terminated Jim Ditter, who had been president of Norlight since 1995, and chief financial officer Mike Garvey. What is now known as the Journal Community Publishing Group began in Waupaca, Wisconsin in 1972 as a publishing and printing company called Add Inc. A majority interest was purchased by Journal Communications in 1981, and the remainder in 1986. In June 2007, Journal Communications sold off its JCP interests in Louisiana, Ohio, Connecticut and Vermont. The sales brought in a combined $30 million.[4]

The company sold 11 community newspapers, five shoppers and two printing plants in Connecticut and Vermont to Hersam Acorn Newspapers. In Ohio, Journal sold eight shoppers, numerous specialty print products and the Advantage Press commercial printing business to Gannett Company. It also sold its Louisiana-based publishing business to a Target Media Partners affiliate. In 1999 Journal Communications acquired the Great Empire radio group (13 radio stations in 4 states). The corporation had its initial public offering of Class A shares in 2003. For decades, Journal Communications been criticized[5][6] with concerns about being a media monopoly in the Milwaukee area. It created the now-defunct alternative papers MKE and ¡Aqui! Milwaukee to regain advertising dollars lost to local independents like the Shepherd Express and the Milwaukee Spanish Journal.[7]

As Journal Media Group[edit]

On July 30, 2014, it was announced that Journal would be acquired by the E. W. Scripps Company in an all-stock transaction that would form a company that would then split in two. Scripps would retain the two firms' broadcasting properties, while they would spin off their print properties into Journal Media Group.[8] The FCC approved the deal on December 12, 2014, and it was approved by shareholders on March 11, 2015.[9] The merger and spin-off were finalized on April 1, 2015; Stephen J. Smith was replaced as CEO by Timothy E. Stautberg—the former head of Scripps' newspaper operation.[10] Although Journal Media Group is headquartered where Journal Communications was, the latter company is legally defunct, having been absorbed into Scripps and renamed "Desk BC Merger, LLC".[11]

Assets[edit]

Newspapers[edit]

Community Publishing Group[edit]

Florida

Wisconsin

Other holdings[edit]

  • IPC Print Services
  • PrimeNet

Former properties[edit]

Television stations[edit]

  • (**) – Indicates that it was built and signed on by Journal.
City of license / Market Station Channel
TV (RF)
Years Owned Current Ownership Status
Tucson - Sierra Vista, Arizona KGUN-TV 9 (35) 2005-2015 ABC affiliate owned by The E. W. Scripps Company
KWBA-TV 58 (44) 2008-2015 The CW affiliate owned by The E. W. Scripps Company
Cape Coral - Fort Myers - Naples, Florida WFTX-TV 36 (35) 2005-2015 Fox affiliate owned by The E. W. Scripps Company
Nampa - Caldwell - Boise, Idaho KIVI-TV 6 (24) 2002-2015 ABC affiliate owned by The E. W. Scripps Company
KNIN-TV 9 (10) 2009-2015 Fox affiliate owned by Kiel Media Group
Twin Falls, Idaho KSAW-LD
(semi-satellite of KIVI)
51 (51) 2002-2015 ABC affiliate owned by The E. W. Scripps Company
Lansing, Michigan WSYM-TV 47 (35) 1985-2015 Fox affiliate owned by The E. W. Scripps Company
Omaha, Nebraska KMTV-TV 3 (45) 2007-2015 CBS affiliate owned by The E. W. Scripps Company
Las Vegas, Nevada KTNV-TV 13 (12) 1979-2015 ABC affiliate owned by The E. W. Scripps Company
Nashville, Tennessee WTVF 5 (5) 2012-2015 CBS affiliate owned by The E. W. Scripps Company
Green Bay - Appleton, Wisconsin WGBA-TV 26 (41) 2004-2015 NBC affiliate owned by The E. W. Scripps Company
WACY-TV 32 (27) 2012-2015 MyNetworkTV affiliate owned by The E. W. Scripps Company
Milwaukee, Wisconsin WTMJ-TV ** 4 (28) 1948-2015 NBC affiliate owned by The E. W. Scripps Company
Palm Springs, California KMIR-TV 36 (46) 1999-2014 NBC affiliate owned by OTA Broadcasting, LLC
KPSE-LP 50 2008-2014 MyNetworkTV affiliate, KPSG-LP, owned by OTA Broadcasting, LLC

Radio stations[edit]

Boise, Idaho

Leavenworth, Kansas

Knoxville, Tennessee

Milwaukee, Wisconsin

Nebraska City, Nebraska

Newton, Kansas

Omaha, Nebraska

Ontario, Oregon

Powell, Tennessee

Caldwell, Idaho

Springfield, Missouri

Tucson, Arizona

  • KFFN - 1490 AM - ESPN/Sports Radio
  • KTGV - 106.3 FM - Rhythmic Oldies [1]
  • KMXZ - 94.9 FM - Adult Contemporary/AC [2]
  • KQTH - 104.1 FM - News/Talk [3]

Tulsa, Oklahoma

Wichita, Kansas

Wausau, Wisconsin

Board of directors[12][edit]

  • Steven J. Smith - Chairman of the Board and Chief Executive Officer, Journal Communications
  • David Drury - President & Chief Executive Officer, Poblocki Sign Company, LLC
  • David Meissner - Former Chairman, Public Policy Forum, Inc.
  • Jonathan Newcomb - Senior Advisor, Coady Diemar Partners
  • Roger Peirce - Retired Vice Chairman & CEO, Super Steel Products Corporation
  • Ellen Siminoff - CEO, Shmoop, and Chairman, Efficient Frontier
  • Mary Ellen Stanek - Managing Director & Chief Investment Officer, Baird Advisors, Robert W. Baird & Co. Inc
  • Owen Sullivan - CEO, Right Management
  • Jeanette Tully - President and CEO, Radiovisa Corporation

References[edit]

  1. ^ a b c d e "Journal Communications, Inc. 2012 Annual Report". Journal Communications. Retrieved August 2, 2013. 
  2. ^ About Perry Printing, perryjudds.com; accessed January 22, 2015.
  3. ^ Perry Printing sold to Milhous Group, google.com; accessed January 22, 2015.
  4. ^ www.journalcommunications.com
  5. ^ "Duel in Milwaukee", time.com, January 3, 1972.
  6. ^ Hoffmann, Gregg. "WisBiz In-Depth: Newspaper chain ownership explodes in state", wisbusiness.com, January 31, 2005.
  7. ^ Miranda, Robert. "Taking Sides: What ¡Aquí! Milwaukee Really Represents", hispanicvista.com, June 6, 2005.
  8. ^ Glauber, Bill (30 July 2014). "Journal, Scripps deal announced". Milwaukee Journal Sentinel. Retrieved July 30, 2014. 
  9. ^ "Journal, Scripps shareholders OK transaction; closing expected by early April". Milwaukee Business Journal. Retrieved 11 March 2015. 
  10. ^ Gores, Paul (1 April 2015). "Journal, Scripps merger creates two closely aligned media companies". Milwaukee Journal-Sentinel. Retrieved 3 April 2015. 
  11. ^ http://www.sec.gov/Archives/edgar/data/1232241/000110465915024859/a15-7690_1posam.htm
  12. ^ Board of Directors, phx.corporate-ir.net; accessed January 22, 2015.