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MILWAUKEE--(BUSINESS WIRE)--Feb. 12, 2009-- Journal Communications, Inc. (NYSE:JRN) announced today that for the twelfth period ended December 28, 2008, total revenues for its Publishing and Broadcast groups of $39.08 million decreased 12.4% compared to $44.58 million reported for the twelfth period ended December 30, 2007. For the twelfth period 2008, advertising revenues of $32.41 million decreased 14.9% compared to $38.09 million for the 2007 twelfth period. Both periods contained 35 days.

Note that unless otherwise indicated, all comparisons are to the twelfth period ended December 30, 2007.

At the Publishing segment, revenues at the daily newspaper and the community newspapers and shoppers totaled $22.12 million, down 9.1% compared to $24.33 million. Advertising revenue was $15.45 million, down 13.4% compared to $17.84 million. Circulation revenue of $5.08 million was up 2.5% compared to $4.96 million. Other revenue of $1.59 million was up 3.9%.

At the daily newspaper, total advertising revenue was $12.54 million, down 16.2% compared to $14.97 million. Specifically, retail advertising revenue was down 5.2% and classified advertising revenue was down 34.5%. National advertising revenue of $0.76 million decreased 20.9% and direct marketing revenue of $53,000 was down 89.7%. Within classified advertising, the help wanted, real estate/rentals, auto verticals and the other classified verticals were down 60.3%, 23.5%, 24.6% and 2.5%, respectively. Circulation revenue at the daily newspaper was $4.90 million. Other revenue at the daily newspaper of $1.24 million was up 1.5% compared to $1.22 million primarily due to new commercial printing customers in 2008. Total interactive advertising revenue at the daily newspaper, which is reflected in the various revenue categories, decreased 7.4% to $1.15 million compared to $1.24 million.

At the Company’s community newspapers and shoppers operations, total advertising revenue was $2.92 million, up 1.5% compared to $2.88 million. Retail advertising revenue was essentially flat. Classified revenue was up 8.9% due to revenue from the acquisitions in 2008. Other advertising revenue was $21,000. Circulation revenue at the community newspapers and shoppers of $0.19 increased 86.9%. Retail and classified advertising and circulation revenue were favorably impacted by acquisitions in 2008. Other revenue at the community newspapers and shoppers of $0.35 million increased 13.3% due to an increase in commercial printing.

At the Broadcasting segment, total revenue at the Company’s radio and television stations of $16.95 million decreased 16.3% compared to $20.25 million. At the television group, revenue decreased 21.0% to $9.73 million compared to $12.32 million, primarily due to softness in all television markets except Milwaukee. At the radio group, revenue of $7.22 million was down 8.9% compared to $7.93 million, reflecting declines in all of our radio markets.

Like a number of media companies, Journal Communications has determined that starting in 2009 the Company will no longer publish monthly revenue results. The Company does not believe releasing this information on a monthly basis is more helpful than providing it on a quarterly basis and the monthly releases are not representative of the Company’s longer-term focus.

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 and on page 23 of our most recent Quarterly Report on Form 10-Q, each 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 12 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.

Tables Follow

Source: Journal Communications, Inc.

Journal Communications, Inc.
Andre J. Fernandez
Executive Vice President, Finance & Strategy
and Chief Financial Officer
414-224-2884