Journal Broadcast Group Closes on Sale of Palm Springs TV Stations KMIR and KPSE to OTA Broadcasting

MILWAUKEE--()--Journal Broadcast Group, Inc., a subsidiary of Journal Communications, Inc. (NYSE: JRN), today announced the closing of the sale of television stations KMIR-TV (an NBC affiliate) and My 13 KPSE TV (a MyNetwork affiliate) in Palm Springs, Calif., to OTA Broadcasting (PSP), LLC, an affiliate of Virginia-based OTA Broadcasting, LLC, for $17 million in cash.

Kalil & Co., Inc., represented Journal Communications and Media Venture Partners, LLC, represented OTA.

Forward-looking statements

This press release contains certain forward-looking statements related to our business that are based on 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 our most recent Quarterly Report on Form 10-Q 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 television and radio broadcasting, publishing and digital media. We own and operate 13 television stations and 35 radio stations in 11 states. We publish the Milwaukee Journal Sentinel, which serves as the only major daily newspaper for the Milwaukee metropolitan area, and several community publications in Wisconsin. Our digital media assets build on our strong publishing and broadcasting brands.

Contacts

For more information:
Journal Communications, Inc.
Andre Fernandez, (414) 224-2884
President and Chief Financial Officer
or
Angela Lois, (414) 224-2633
Director of Investor Relations

Release Summary

Journal Broadcast Group today announced the closing of the sale of television stations KMIR-TV and My 13 KPSE TV to OTA Broadcasting.

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Contacts

For more information:
Journal Communications, Inc.
Andre Fernandez, (414) 224-2884
President and Chief Financial Officer
or
Angela Lois, (414) 224-2633
Director of Investor Relations