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MILWAUKEE--(BUSINESS WIRE)--Apr. 23, 2009--
Journal Communications, Inc. (NYSE:JRN) announced today that its Journal
Broadcast Group, Inc. and Journal Broadcast Corporation closed on its
purchase of KNIN-TV for $6.6 million from Banks Boise, Inc. KNIN-TV,
Analog Channel 9 and Digital Channel 10, is the CW Network affiliate
serving the Boise market.
Journal Broadcast Group currently owns KIVI-TV, the ABC affiliate, and
radio stations KJOT-FM, KQXR-FM, KTHI-FM, KGEM-AM, KRVB-FM and KCID-AM
in Boise.
“The purchase of KNIN builds our cross-media businesses in Boise,” said
Doug Kiel, vice chairman and chief executive officer of Journal
Broadcast Group. “We will better serve advertisers and viewers in the
Treasure Valley, build a stronger community presence in Boise, and
enhance our margin with multiple media properties.”
The KNIN-TV transaction was brokered by Kalil & Company, Inc.
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 on page 1 of our most recent
Annual Report on Form 10-K 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
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 more than 50 community newspapers and shoppers in
Wisconsin and Florida. We own and operate 35 radio stations and 13
television stations in 12 states and operate an additional television
station under a local marketing agreement. Our interactive media assets
include about 120 online enterprises that are associated with our daily
and community newspapers and 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.
Source: Journal Communications, Inc.
Journal Broadcast Group
Jim Thomas
414-967-5293
jthomas@journalbroadcastgroup.com
