Journal Broadcast Group Announces Sale Of KFTI-FM (92.3) To Envision Broadcast Network, LLC

Journal Broadcast Group, Inc., a subsidiary of Journal Communications, Inc. (NYSE: JRN) has announced an agreement to sell radio station KFTI-FM (92.3) in Wichita to Envision Broadcast Network, LLC, which is affiliated with Envision, Inc.

Envision ( www.envisionus.com) is a not-for-profit organization that promotes nationwide advocacy and independence for those who are blind or visually impaired. Envision plans to use the station to broadcast blind and visually impaired (BVI) messaging while sharing its initiatives in a traditional radio station format including a morning show and other mainstream segments. In addition, Envision plans to provide support to other not-for-profit organizations in the region by sharing their messages with the community.

“We’re pleased to have found such a quality buyer in Envision, and commend their efforts to use the station to improve lives in their community,” said Andre Fernandez, President & COO of Journal Communications.

“I am so impressed with the work Envision does in the Wichita community, and am gratified that this station will enable them to further their important mission,” agreed Steve Wexler, EVP/Radio for Journal Broadcast Group.

“We are very excited to be adding a new dimension to our organization as we enter the world of broadcast communications,” said Michael Monteferrante, CEO/President of Envision. “KFTI represents our latest success in diversifying our operations and strengthening our resources. We’re gaining a new revenue stream for funding our programs, new job opportunities for those we serve and a valuable communications vehicle through which we and other organizations can reach audiences. We look forward to making this new venture a key asset to Envision’s community and the Wichita community at large.”

Journal Broadcast Group is required to divest one FM station in its Wichita cluster as a result of the announced transaction between Journal Communications and The E.W. Scripps Company, in order to comply with the FCC’s ownership limits. As part of that transaction, Journal Broadcast Group’s TV and radio stations will become part of Scripps, and both companies’ newspaper operations will be spun off and then merge to form a new public company called Journal Media Group. The transaction is expected to close in 2015.

The sale of KFTI is contingent on FCC approval.

About Journal Broadcast Group

Journal Broadcast Group owns and operates or provides services to 14 television stations and 35 radio stations in 11 states. Headquartered in Milwaukee, Wisconsin, it is the broadcast business of Journal Communications Inc. (NYSE: JRN), a diversified media company with operations in publishing, television and radio broadcasting, and digital media. Learn more at www.journalcommunications.com.

About Envision

Envision ( www.envisionus.com) is a not-for-profit organization that promotes advocacy and independence for those who are blind or visually impaired nationwide. Founded in 1933, Envision is one of the largest employers of individuals with vision loss in the nation. Headquartered in Wichita, Envision’s mission is to improve the quality of life and provide inspiration for the blind and visually impaired through employment, outreach, rehabilitation, education and research.

Copyright Business Wire 2010

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