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Journal Communications, Inc. Declares Quarterly Dividend and Announces Additional Share Repurchase Authorization

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MILWAUKEE--(BUSINESS WIRE)--Oct. 9, 2007--The Board of Directors of Journal Communications, Inc. (NYSE:JRN) has declared a quarterly dividend of $0.075 per share on all of its class A and class B shares held of record as of the close of business on November 27, 2007. The quarterly dividend will be paid on December 7, 2007. The board made the declaration at its regularly scheduled meeting on October 9.

The Board of Directors also authorized the repurchase of up to five million additional shares of Journal Communications' class A common stock over the next 18 months. Under the program, share purchases may be made at the discretion of the Company, from time to time, in the open market and/or in private transactions. Share purchases by the Company will depend on market conditions, share price, trading volume and other factors. The action supplements the five-million share repurchase authorizations approved in February 2005, April 2006 and May 2007. Through October 5, 2007, the Company had repurchased a total of 13,423,200 shares of common stock, including 3.2 million class B shares purchased from Matex, Inc. in August 2007.

About Journal Communications

Journal Communications, Inc., headquartered in Milwaukee, Wisconsin, was founded in 1882. We are a diversified media company with operations in publishing, radio and television broadcasting, interactive media and printing services. We publish the Milwaukee Journal Sentinel, which serves as the only major daily newspaper for the Milwaukee metropolitan area, and 44 community newspapers and shoppers in Wisconsin and Florida. We own and operate 35 radio stations and ten television stations in 12 states and operate two television stations under local marketing agreements. Our interactive media assets include more than 75 online enterprises that are associated with our daily and community newspapers, television and radio stations. We also provide a wide range of commercial printing services -- including printing of publications, professional journals and documentation material -- and operate a direct marketing services business.

CONTACT: Journal Communications, Inc.
Sara Leuchter Wilkins
Vice President of Investor Relations
and Corporate Communications

SOURCE: Journal Communications, Inc.