Watch Live

Tweet TWEET

Journal Communications, Inc. Closes On Purchase of NewsChannel 5, WTVF TV, Nashville, Tennessee From Landmark Media

  Journal Communications, Inc. Closes On Purchase of NewsChannel 5, WTVF TV,
  Nashville, Tennessee From Landmark Media

Business Wire

MILWAUKEE -- December 06, 2012

Journal Communications, Inc. (NYSE:JRN) announced today that its Journal
Broadcast Group, Inc. subsidiary has closed on the purchase of Nashville’s
WTVF NewsChannel 5 Network, LLC, a CBS-affiliate television station with an
ancillary news and digital channel as well as a market leading internet
property, from Landmark Media Enterprises, LLC ("Landmark") for $215 million
in cash plus a working capital adjustment.

“The acquisition of NewsChannel 5 provides Journal with the addition of an
excellent television asset and a distinguished group of broadcast
professionals,” said Steven J. Smith, Chairman and CEO of Journal
Communications. “We are very pleased to welcome the NewsChannel 5 team to
Journal and look forward to their continued exceptional work serving the
Nashville market.”

NewsChannel 5 Network consists of NewsChannel 5 (WTVF), NewsChannel 5+, a This
TV affiliate (D3) and NewsChannel5.com, a market leading local digital news
site. NewsChannel 5+ broadcasts on the D2 frequency offering the only
original, local content produced exclusively for the digital channel. WTVF is
the ratings leader in the Nashville market, as well as one of the top CBS
affiliates in the nation based on CBS ratings in metered markets.

Forward-looking Statements

This press release contains certain forward-looking statements related to our
businesses that are based on our current expectations. Forward-looking
statements are subject to certain risks, trends and uncertainties, including
changes in advertising demand and other economic conditions that could cause
actual results to differ materially from the expectations expressed in
forward-looking statements. All forward-looking statements should be evaluated
with the understanding of their inherent uncertainty. Our written policy on
forward-looking statements can be found in our most recent Quarterly Report on
Form 10-Q, as filed with the Securities and Exchange Commission.

About Journal Communications

Journal Communications, Inc., headquartered in Milwaukee, Wisconsin, was
founded in 1882. We are a diversified media company with operations in
television and radio broadcasting, publishing and interactive media. We own
and operate 15 television stations and 34 radio stations in 12 states. We
publish the Milwaukee Journal Sentinel, which serves as the only major daily
newspaper for the Milwaukee metropolitan area, and several community
newspapers and shoppers in Wisconsin. Our interactive media assets build on
our strong publishing and broadcasting brands.

Contact:

Journal Communications, Inc.
Andre Fernandez, President and CFO
(414) 224-2884
or
Angela Lois, Director of Investor Relations
(414) 224-2633