Journal Communications, Scripps Co. receive shareholder approvals for mergers, spinoffs

MarketsAssociated Press

Shareholders have approved plans by Journal Communications Inc. of Milwaukee and E.W. Scripps Co. of Cincinnati to combine their broadcasting operations while spinning off newspaper holdings into a separate entity.

The transactions are expected to close early in the second quarter.

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Scripps and Journal Communications will merge their broadcast operations, creating an expanded Scripps. The newspaper operations will merge into a new, publicly traded company called Journal Media Group.

The merged broadcast and digital media company will retain the E.W. Scripps Co. name. It will have about 4,000 employees in television, radio and digital media.

Journal Media Group will be headquartered in Milwaukee and operate in 14 markets. It will combine Journal Communications' Milwaukee Journal Sentinel, community publications and digital products with Scripps' daily newspapers plus community and digital products.