Journal Communications, Inc. (NYSE:JRN) announced today that Journal Broadcast Group, Inc. and Journal Broadcast Corporation completed the sale of 1140 KGEM and 1490 KCID in Boise to the non-profit Salt & Light Radio, Inc. for $950,000.
“The sale of these stations to Salt & Light will bring Catholic programming to the Treasure Valley and allow us to focus on our four remaining radio stations and two TV stations,” said Doug Kiel, vice chairman and chief executive officer of Journal Broadcast Group. “We will continue to serve advertisers and viewers with our multiple media properties.” Journal Broadcast Group currently owns KIVI-TV, the ABC affiliate, and KNIN-TV, the CW Network Affiliate, and radio stations KJOT-FM, KQXR-FM, KTHI-FM, and KRVB-FM in Boise.
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 23 of our most recent Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission.
About Journal Broadcast Group
Journal Broadcast Group owns and operates 33 radio stations and 13 television stations in 12 states and operates an additional television station under a local marketing agreement. Headquartered in Milwaukee, Wisconsin, it is the broadcast business of Journal Communications Inc., a diversified media company with operations in publishing, radio and television broadcasting, interactive media and printing services.
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 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 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.
Contacts:
Jim Thomas
Journal Broadcast Group
414-967-5293
jthomas@journalbroadcastgroup.com
