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Journal Broadcast Group to Purchase WNOX 100.3 FM in Knoxville, TN

KNOXVILLE, Tenn.--(BUSINESS WIRE)--Dec. 20, 2012-- Journal Broadcast Corporation, a subsidiary of Journal Communications, Inc. (NYSE:JRN), today announced that it has reached an agreement to purchase 100.3 WNOX FM, licensed to Oak Ridge, TN, in the Knoxville, TN market from Oak Ridge FM, Inc. The transaction is subject to FCC approval. Terms of the transaction were not disclosed.

“This is a great opportunity for us to add to our Knoxville cluster,” said Steven Smith, Chairman and CEO of Journal Communications. “Knoxville is a strong market for Journal with an exceptional team. The addition of WNOX will help us expand our reach to listeners and customers in this community.”

Journal Broadcast Group owns three radio stations in Knoxville, Tennessee including WCYQ-FM Q93 (Country), WWST-FM Star 102.1 (Contemporary), and WKHT-FM Hot 104.5 (Contemporary).

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 television and radio broadcasting, publishing and interactive media. We own and operate 15 television stations and 35 radio 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.
Andre Fernandez, President and CFO
(414) 224-2884
or
Angela Lois, Director of Investor Relations
(414) 224-2633


"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.