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Journal Broadcast Group Closes on the Purchase of WACY Green Bay, WI

MILWAUKEE--(BUSINESS WIRE)--Oct. 23, 2012-- Journal Broadcast Group, Inc., a subsidiary of Journal Communications, Inc. (NYSE:JRN), today announced that it has closed on the purchase of WACY-TV in Green Bay for $2.038 million from ACE TV, Inc.

WACY is a MyNetwork station in Green Bay/Appleton, WI. Journal Broadcast Group has had a local marketing agreement for the station since late 2004. Journal also owns WGBA-TV, the NBC affiliate in Green Bay.

“Completion of the WACY transaction solidifies our duopoly in the Green Bay market,” said Steven J. Smith, Chairman and CEO of Journal Communications.

Forward-looking Statements

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 in our most recent Quarterly Report on Form 10-Q 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 radio and television broadcasting, publishing and interactive media. We own and operate 35 radio stations and 14 television stations in 12 states. 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. Our interactive media assets build on our strong publishing and broadcasting brands.

Source: Journal Communications, Inc.

Journal Communications, Inc.
Jim Thomas, Vice President, Marketing and Programming
(414) 967-5293
Investor contact:
Andre Fernandez, President and CFO
(414) 224-2010

"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.