|Journal Communications' Broadcast Group Completes Acquisition of KWBA in Sierra Vista, Arizona|
MILWAUKEE--(BUSINESS WIRE)--July 23, 2008--Journal Communications, Inc. (NYSE:JRN) announced today that its Journal Broadcast Group, Inc. and Journal Broadcast Corporation have completed the purchase of KWBA-TV in Sierra Vista from Tucson Communications, LLC and Cascade Broadcasting Group. KWBA-TV, Analog Channel 58 and Digital Channel 44, is the CW Network-affiliate serving the Tucson market. Terms of the transaction were not disclosed.
In the Tucson market, Journal Broadcast Group currently owns KGUN-TV, the ABC affiliate, as well as KMXZ-FM, KQTH-FM, KGMG-FM and KFFN-AM.
"We are pleased to complete the acquisition of KWBA as we continue to build out cross-platform businesses in growth markets such as Tucson," said Doug Kiel, Vice Chairman and Chief Executive Officer of Journal Broadcast Group. "KWBA allows us to increase our hyper-local news focus. With two television stations and four radio stations in this market, we are in a good position to grow our total audience and serve our viewers in the Tucson area."
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 52 community newspapers and shoppers in Wisconsin and Florida. We own and operate 35 radio stations and 12 television stations in 12 states and operate an additional television station under a local marketing agreement. Our interactive media assets include more than 121 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.
CONTACT: Journal Broadcast Group
|"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Journal Communications, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.|