Journal Communications

Journal Communications, Inc.

Type	Public
Traded as	NYSE: JRN
Industry	Media
Founded	Milwaukee, Wisconsin, United States (1882)
Headquarters	Milwaukee, Wisconsin
Area served	U.S.-wide
Key people	Stephen J. Smith (Chairman and CEO)
Services	Newspaper publishing, radio and television stations
Revenue	$400 million (2012)[1]
Operating income	$60 million (2012)[1]
Net income	$33.3 million (2012)[1]
Total assets	$625.8 million (2012)[1]
Total equity	$205.5 million (2012)[1]
Subsidiaries	Journal Broadcast Group
Website	www.journalcommunications.com

Journal Communications, Inc. (NYSE: JRN) is a publicly traded media company based in Milwaukee, Wisconsin. It publishes the Milwaukee Journal Sentinel, a daily newspaper, and it also owns television stations, radio stations and weekly newspapers, among other businesses.

History

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 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 any "good will" 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] in 1974 it purchased the remaining shares of the company; and in 1995 sold the operation (which by then had about 1000 employees and sales of $123 million) to the Milhous Group of California .

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.

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 ^[3][4] 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.^[5]

Journal Sentinel

(Headquarters: Milwaukee)

Traditional publishing

• Milwaukee Journal Sentinel (daily newspaper)

Printing agreements for Journal's Milwaukee press facilities

• USA Today copies distributed in eastern Wisconsin and north suburban Chicago ^[6]
• The Chicago Reader
• Shepherd Express
• The Sheboygan Press

Online content

Journal Interactive

• JSOnline
• OnWisconsin.com
• MKEOnline.com
• MyCommunityNOW.com Network (individual news sites for each Milwaukee suburb)

Journal Broadcast Group

(Headquarters: Milwaukee)

Television stations

Journal Broadcast Group primary logo

Journal Broadcast Group alternate logo

Current

• (**) – Indicates that it was built and signed on by Journal.

Former

Radio stations

Former Radio stations

• WIFC - Wausau, Wisconsin
• WSAU-AM - Wausau, Wisconsin
• KQRC-FM - Leavenworth, Kansas
• WJBE - Powell, Tennessee (was WQBB, WKTI and WWAM)
• KCID - Caldwell, Idaho
• KGEM - Boise, Idaho
• KSRV-FM - Ontario, Oregon
• KSRV - Ontario, Oregon
• KBBX-FM - Nebraska City, Nebraska
• KOTK - Omaha, Nebraska (was KBBX and KHLP)
• KOMJ - Omaha, Nebraska (was KOSR)

Journal Community Publishing Group

In addition to weekly newspapers, the Journal Community Publishing Group publishes advertising and specialty publications in Florida, Massachusetts, New York and Wisconsin. (Headquarters: Waupaca, and New Berlin, Wisconsin)

Weekly newspapers

Journal Community Publishing Group logo

Other holdings

• IPC Print Services (Headquarters: St. Joseph, Michigan)
• PrimeNet, a direct marketing company (Headquarters: Saint Paul, Minnesota)

Board of Directors^[7]

• 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

External links

• Journal Communications
• Milwaukee Journal Sentinel
• Journal Broadcast Group
• Journal Community Publishing Group
• Primenet Direct Marketing Solutions