Journal Media Group

Journal Media Group was a Milwaukee-based American newspaper publishing company that existed from 2015 to 2016. It was created through a complicated restructuring connected with the acquisition of Journal Communications by the E. W. Scripps Company. Scripps acquired Journal Communications in an all-stock transaction but retained the combined companies’ broadcasting assets. The newspaper and related publishing operations of both companies were separated into a newly formed public company called Journal Media Group. The new company inherited a substantial portfolio of daily newspapers, community publications, and associated printing activities. Its assets included the Milwaukee Journal Sentinel, which represented the continuation of the Milwaukee Journal tradition dating to 1882 and the Milwaukee Sentinel tradition dating to 1837. Other daily newspaper holdings included the Ventura County Star, Redding Record Searchlight, Naples Daily News, Evansville Courier & Press, The Gleaner, Anderson Independent-Mail, Knoxville News-Sentinel, The Commercial Appeal, Abilene Reporter-News, Corpus Christi Caller-Times, San Angelo Standard-Times, Times Record News, and the Kitsap Sun. The portfolio also included Treasure Coast newspapers in Florida and a range of community publications in Wisconsin and Florida. Journal Media Group was led by Timothy E. Stautberg, who had previously headed Scripps’ newspaper operations. Stephen J. Smith, the former chief executive of Journal Communications, became chairman. The company was headquartered at the former Journal Communications facilities in Milwaukee. Its business model centered on local and regional journalism, print advertising, subscriptions, community publications, and related publishing services rather than broadcasting, since the broadcast properties remained with Scripps after the transaction. The company’s formation was approved by the Federal Communications Commission in December 2014 and by shareholders in March 2015. The merger, spin-off, and launch of Journal Media Group were completed on April 1, 2015. Its independent existence was brief. On October 7, 2015, Gannett announced an agreement to purchase Journal Media Group for $280 million. The acquisition closed on April 8, 2016, after which Journal Media Group ceased to operate as an independent company and its newspaper assets became part of Gannett’s portfolio.

Journal Media Group’s immediate corporate history began with Journal Communications, whose roots reached back to the Milwaukee Journal, founded in 1882. The Journal Company expanded beyond newspapers by launching WTMJ radio in 1927 and WTMJ-TV in 1947, and later acquired or developed additional radio and television properties. It also operated printing, telecommunications, and community-publishing businesses at various times. The Milwaukee Sentinel, founded in the nineteenth century, became an important part of the company’s newspaper history. After Hearst announced the paper’s closure in 1962 following a costly strike, The Journal Company acquired the Sentinel name, subscription lists, and related goodwill. The Milwaukee Journal and Milwaukee Sentinel were consolidated in 1995, creating the seven-day morning Milwaukee Journal Sentinel, which became the company’s most prominent newspaper asset. Journal Communications expanded its non-newspaper activities during the twentieth century. It acquired interests in Perry Printing, later purchasing the remaining shares, and developed a telecommunications operation that eventually became Norlight. The company also built a community-publishing group from a business originally established in Waupaca, Wisconsin. Some of these activities were later sold, including Norlight to Q-Comm in 2007 and several regional community-publishing operations to different buyers. The company acquired the Great Empire radio group in 1999 and completed an initial public offering of Class A shares in 2003. Its Milwaukee media concentration attracted criticism from people concerned about local media monopolization. In response to competition from independent publications, the company created alternative publications including MKE and ¡Aqui! Milwaukee, although these publications were later discontinued. In July 2014, Scripps announced that it would acquire Journal Communications. Scripps planned to keep the broadcasting assets while combining the newspaper businesses of Scripps and Journal in a separate company. Regulatory approval arrived in December 2014, shareholders approved the transaction in March 2015, and the transaction closed on April 1, 2015. Journal Media Group was headquartered in Milwaukee and appointed Timothy E. Stautberg as chief executive, with former Journal chief executive Stephen J. Smith serving as chairman. The company inherited daily newspapers across numerous U.S. states, as well as community newspapers, shoppers, and printing-related assets. Its independent life lasted approximately one year. Gannett announced its acquisition in October 2015 and completed the transaction on April 8, 2016. Journal Media Group therefore became a former corporate brand and operating company rather than a continuing independent publisher.

1. 2016Acquired by Gannett

   Gannett completed its acquisition of Journal Media Group on April 8.

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2. 2015Journal Media Group formed

   The publishing assets of Journal Communications and Scripps were spun out into Journal Media Group on April 1.

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3. 2003Initial public offering

   Journal Communications completed an initial public offering of Class A shares.

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4. 1999Great Empire radio group acquired

   Journal Communications acquired a 13-station radio group operating across four states.

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5. 1995Milwaukee Journal and Sentinel consolidated

   The two Milwaukee newspapers were combined into the Milwaukee Journal Sentinel.

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6. 1947WTMJ-TV launched

   The company expanded into television with WTMJ-TV.

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7. 1927WTMJ radio launched

   The Journal Company entered broadcasting with the launch of WTMJ-AM.

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8. 1882Milwaukee Journal established

   The Milwaukee Journal was founded, establishing the newspaper tradition from which Journal Communications ultimately developed.

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A U.S. local-media publisher focused on daily newspapers, community publications, regional journalism, local advertising, and related print services.

• Daily newspapersNewspaper publishing

  Journal Media Group operated a portfolio of local and regional daily newspapers. These publications supplied local reporting, sports, public-affairs coverage, advertising, and subscription products in markets across the United States. The portfolio included the Milwaukee Journal Sentinel, Ventura County Star, Redding Record Searchlight, Naples Daily News, Evansville Courier & Press, The Commercial Appeal, Knoxville News-Sentinel, Corpus Christi Caller-Times, and other state and regional titles.

• Community Publishing GroupCommunity publishing1972

  The company’s community-publishing operations included local newspapers, shoppers, and specialty publications, especially in Wisconsin and Florida. These titles served smaller municipalities and neighborhoods with community news, local notices, and advertising. The group originated from a Waupaca, Wisconsin publishing and printing business that Journal Communications acquired in stages.

• Commercial printing and specialty print servicesCommercial printing

  Journal-related businesses included commercial printing and specialty print products serving magazines, catalogs, advertising inserts, and other publications. These operations complemented the newspaper business by providing production and print-distribution capabilities, although several holdings were sold before or around the formation of Journal Media Group.

• MKE and ¡Aqui! Milwaukee

  Milwaukee, Wisconsin

  Journal Communications created alternative publications aimed at competing for advertising and readership with independent Milwaukee publications, including the Shepherd Express and Milwaukee Spanish Journal.

  Outcome. The publications were later discontinued.

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• 2015Gannett acquisition agreementM&A

  Journal Media Group had only recently been formed as an independent newspaper publisher.

  What changed. Gannett agreed to purchase Journal Media Group for $280 million.

  Aftermath. The transaction closed on April 8, 2016, ending Journal Media Group’s independent corporate existence.

  Acquisition value. $280 million (Announced October 7, 2015; completed April 8, 2016)

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• 2014Separate publishing assets from Scripps acquisitionM&A

  Scripps agreed to acquire Journal Communications while retaining the companies’ broadcasting operations.

  What changed. The newspaper and related publishing assets were placed into a newly formed company, Journal Media Group.

  Aftermath. The structure was approved by regulators and shareholders and completed in April 2015.

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• 2016Gannett completes Journal Media Group acquisition

  Gannett completed its acquisition of Journal Media Group, ending the company’s short period as an independent publisher.

  M&A
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• 2015Journal Media Group launches after merger and spin-off

  The merger and publishing spin-off were completed, creating Journal Media Group as an independent newspaper company led by Timothy E. Stautberg.

  M&ALeadership change
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• 2015Gannett agrees to acquire Journal Media Group

  Gannett announced an agreement to acquire Journal Media Group for $280 million, subject to closing conditions.

  M&A
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• 2014Scripps announces acquisition of Journal Communications

  The E. W. Scripps Company announced an all-stock transaction to acquire Journal Communications and separate the companies’ newspaper operations into a new entity, later named Journal Media Group.

  M&A
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• 2014FCC approves Journal Communications transaction

  The Federal Communications Commission approved the transaction that allowed Scripps to retain broadcasting properties while the publishing assets were spun out.

  RegulationM&A
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1. Journal Media Group