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