Newspaper & Mailroom

Journal Communications Announces the Sale of IPC Print Services Business to Walsworth Publishing Company

Tuesday 14. December 2010 - Journal Communications, Inc. (NYSE:JRN) today announced the sale of its IPC Print Services business to Marceline, Missouri-based Walsworth Publishing Company effective at the end of the day. Terms of the transaction were not disclosed.

“Finding a quality buyer for IPC allows us to continue to focus on our core local market media businesses,” said Steven J. Smith, Chairman and Chief Executive Officer of Journal Communications. “We appreciate the contributions of IPC’s many dedicated employees. We are excited about their future business opportunities with a fine company like Walsworth Publishing.”
“With the addition of IPC to the Walsworth family, our new and established customers will find a partner dedicated to expanding its capabilities,” said Don Walsworth, President of Walsworth Publishing Company. “We are bringing together two organizations that share the same values and commitment to meet the needs of our customers today and into the future.”
IPC Print Services specializes in print manufacturing, electronic publishing, data management, assembly, distribution and fulfillment of scientific, medical and technical journals. Journal Communications has owned IPC since 1992.
Founded in 1937, Walsworth Publishing Company is among the 50 largest printing companies in the U.S. and top 10 book printers. The company is also the only American- and family-owned publisher of yearbooks.
For Journal Communications’ accounting purposes, IPC will be treated as a discontinued operation in its 2010 financial statements.