Journal Communications’ Broadcast Group Signs Asset Purchase Agreement for KNIN-TV in Boise, Idaho

Journal Broadcast Group

Jim Thomas

414-967-5293

jthomas@journalbroadcastgroup.com

Logo: http://www.jc.com

Journal Communications, Inc. (NYSE:JRN) announced today that its Journal Broadcast Group, Inc. and Journal Broadcast Corporation have entered into an asset purchase agreement with Banks-Boise, Inc. to purchase KNIN-TV for $8 million, subject to regulatory approval and customary closing conditions. KNIN-TV, Analog Channel 9 and Digital Channel 10, is the CW Network affiliate serving the Boise market.

Journal Broadcast Group currently owns KIVI-TV, the ABC affiliate, and radio stations KJOT-FM, KQXR-FM, KTHI-FM, KGEM-AM, KRVB-FM and KCID-AM in Boise.

“The acquisition of KNIN is on strategy and gives us an opportunity to build out cross-platform businesses in Boise, one of the country’s fastest growing markets,” said Doug Kiel, vice chairman and chief executive officer of Journal Broadcast Group. “With two television stations and our radio properties in this market, we can better serve advertisers and viewers in the Treasure Valley and build an even stronger presence in the community.”

Lyle Banks, chairman and president of Banks Broadcasting, the parent of Banks-Boise, commented: “KNIN has a terrific and hardworking staff. I’m particularly pleased that KNIN is being turned over to an experienced broadcasting company whose leadership has a real commitment to the Boise market, the local community and to its employees.”

The KNIN-TV transaction was brokered by Kalil & Company, Inc.

Forward-looking Statements

This press release contains certain forward-looking statements related to our businesses that are based on our current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward- looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Our written policy on forward-looking statements can be found on page 1 of our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission.

About Journal Communications

Journal Communications, Inc., headquartered in Milwaukee, Wisconsin, was founded in 1882. We are a diversified media company with operations in publishing, radio and television broadcasting, interactive media and printing services. We publish the Milwaukee Journal Sentinel, which serves as the only major daily newspaper for the Milwaukee metropolitan area, and 52 community newspapers and shoppers in Wisconsin and Florida. We own and operate 35 radio stations and 11 television stations in 12 states and operate an additional television station under a local marketing agreement. Our interactive media assets include more than 121 online enterprises that are associated with our daily and community newspapers and television and radio stations. We also provide a wide range of commercial printing services – including printing of publications, professional journals and documentation material – and operate a direct marketing services business.

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