Newspaper & Mailroom

Journal Community Publishing Group Signs Purchase Agreement for Several Waupaca-Area Publications

Tuesday 30. September 2008 - Journal Community Publishing Group, Inc. (JCPG), a Journal Communications, Inc. (NYSE:JRN) company, announced today that it has signed a definitive agreement to purchase the assets of Waupaca Publishing Company for approximately $7 million, subject to certain closing adjustments.

Said Steve Smith, chairman and chief executive officer of Journal Communications, “This acquisition of additional titles within our existing footprint helps us even more effectively serve readers and advertisers in the middle part of Wisconsin with additional depth of products. Advertisers will benefit from the additional reach the new family of JCPG products will provide in Waupaca and the surrounding counties.”

The purchase consists of several Waupaca-area newspapers including the Waupaca County Post, The Chronicle (Weyauwega/Fremont), the Picture Post, and the Tri-County Advertiser. It also includes the niche publications Wisconsin State Farmer, Wisconsin Horsemen’s News, and Silent Sports magazine.

Said David Honan, vice president and general manager of JCPG, “We are excited to add to our existing operations in Waupaca County. The combination of the Waupaca County Post and (Weyauwega) Chronicle with our existing paid weekly newspapers the Clintonville Tribune, Iola & Manawa Herald Advocate and New London Press Star provide an unparalleled media offering in Waupaca County for our readers and advertisers. Additionally, Wisconsin State Farmer, Wisconsin Horsemen’s News and Silent Sports extend our niche media offerings, which help our advertisers reach specialized audiences.”

Journal Communications will purchase additional print publications and associated internet websites as well as Waupaca Publishing Company’s commercial printing business and the related real estate and buildings. The acquisition is expected to close in early October.