MILWAUKEE - Journal Communications Inc. of
Milwaukee and E.W. Scripps Co. of Cincinnati have announced an
agreement to merge broadcasting operations while spinning off
newspaper holdings into a separate public company.
As part of the
deal announced by the companies Wednesday, the newspaper
component, Journal Media Group, will be headquartered in
Group will include the Journal Sentinel and Scripps newspapers,
including the Memphis Commercial Appeal, and others.
Journal Communicationsí broadcast assets will be folded into
Scripps, with headquarters remaining in Cincinnati.
reportedly emerge from the deal as the nationís fifth-largest
independent TV group, with 34 stations.
say both companiesí boards of directors approved the deal. It is
expected to close in 2015.