|Journal Communications Director Enters into Rule 10b5-1 Trading Plans|
MILWAUKEE, Mar 18, 2011 (BUSINESS WIRE) --
Journal Communications, Inc. (NYSE:JRN) today announced that director David Meissner has established stock trading plans on behalf of four family trusts in accordance with guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934 and in accordance with the Company's policies with respect to insider trading. Mr. Meissner established the plans during the trading window following the Company's release of its fourth quarter and full year 2010 earnings on February 15, 2011.
The trading plans cover a total of just under 200,000 shares and were entered into for diversification purposes. Sales under the plans are subject to certain minimum price levels, with sales under the plans to take place between April 18, 2011 and July 22, 2011.
Rule 10b5-1 allows officers, directors and other designated insiders to adopt written plans to purchase or sell shares under pre-arranged terms when they do not have material non-public information. The rule allows officers, directors and other designated insiders adopting such plans to purchase or sell shares over time even if subsequent material and non-public information becomes available to them. Using these plans, officers, directors and other designated insiders can increase their holdings, diversify their investment portfolios, spread stock trades out over a period of time to reduce market impact, and avoid concerns about whether they had material non-public information when they purchased or sold stock. Stock transactions pursuant to the terms of the plans will be disclosed publicly as required through Form 144 and Form 4 filings with the Securities and Exchange Commission.
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 and interactive media. We publish the Milwaukee Journal Sentinel, which serves as the only major daily newspaper for the Milwaukee metropolitan area, and several community newspapers and shoppers in Wisconsin and Florida. We own and operate 33 radio stations and 13 television stations in 12 states and operate an additional television station under a local marketing agreement. Our interactive media assets build on our strong publishing and broadcasting brands.
SOURCE: Journal Communications, Inc.
Journal Communications, Inc.
|"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.|