Newspaper & Mailroom

Journal Communications, Inc. Closes On Purchase of NewsChannel 5, WTVF TV, Nashville, Tennessee From Landmark Media

Friday 07. December 2012 - Journal Communications, Inc. (NYSE:JRN) announced today that its Journal Broadcast Group, Inc. subsidiary has closed on the purchase of Nashville's WTVF NewsChannel 5 Network, LLC, a CBS-affiliate television station with an ancillary news and digital channel as well as a market leading internet property, from Landmark Media Enterprises, LLC ("Landmark") for $215 million in cash plus a working capital adjustment.

“The acquisition of NewsChannel 5 provides Journal with the addition of an excellent television asset and a distinguished group of broadcast professionals,” said Steven J. Smith, Chairman and CEO of Journal Communications. “We are very pleased to welcome the NewsChannel 5 team to Journal and look forward to their continued exceptional work serving the Nashville market.”
NewsChannel 5 Network consists of NewsChannel 5 (WTVF), NewsChannel 5+, a This TV affiliate (D3) and NewsChannel5.com, a market leading local digital news site. NewsChannel 5+ broadcasts on the D2 frequency offering the only original, local content produced exclusively for the digital channel. WTVF is the ratings leader in the Nashville market, as well as one of the top CBS affiliates in the nation based on CBS ratings in metered markets.