Journal Communications and Scripps to finalize transaction April 1

Special to The Freeman

March 13, 2015

CINCINNATI E.W. Scripps Company and Journal Communications are expected to complete the spin-offs of their respective newspaper businesses and, with respect to Scripps, the payment of a special cash dividend April 1.

Both Scripps and Journal shareholders of record as of the close of business on March 25 will receive shares in Journal Media Group, the independent newspaper company created by the spin-offs, according to the Friday announcement. The Scripps board also declared a $60 million special cash dividend, which equates to about $1 per share, for shareholders of record of Scripps on March 25.

On the closing date, Scripps and Journal Communications will simultaneously spin off and merge their newspaper operations to form Journal Media Group and immediately merge their broadcast operations.