|Journal Broadcast Group Announces Sale of KOMJ-AM and Completion of Purchase of KMTV-TV|
Concurrently, Journal Broadcast Group completed the purchase of KMTV-TV, Channel 3, from Emmis Communications Corporation (Nasdaq:EMMS) and remitted to Emmis a final purchase payment of $10.0 million. Journal Broadcast Group had been operating KMTV under a local marketing agreement since December 5, 2005, pending approval by the Federal Communications Commission of the transfer of the television station license.
The KOMJ-AM transaction was brokered by Kalil & Company, Inc.
This press release may contain 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 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 75 community newspapers and shoppers in eight states. We own and operate 35 radio stations and ten television stations in 12 states and operate one television station under a local marketing agreement. 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.
SOURCE: Journal Communications, Inc.
Journal Communications, Inc.