Journal Communications' Post-Merger Future Takes Shape With Andre Fernandez Exit
January 7, 2015 at 9:02 AM (PT)
JOURNAL COMMUNICATIONS President ANDRE FERNANDEZ will step down after its merger with E.W. SCRIPPS, while MILWAUKEE JOURNAL SENTINEL President/Publisher BETSY BRENNER remains in a top executive role with the newspaper's new owner, JOURNAL MEDIA GROUP, according to a report in the MILWAUKEE BUSINESS JOURNAL. STEVE WEXLER will take over as VP Radio for SCRIPPS.
The board of directors for the new JOURNAL MEDIA GROUP will include two JOURNAL COMMUNICATIONS directors in addition to chairman STEVE SMITH, who will be the company's non-executive Chairman while retiring as CEO. The other remaining JOURNAL board members will be ROBERT W. BAIRD & CO. executive MARY ELLEN STRANEK and JONATHAN NEWCOMB, a former executive with publishing companies SIMON & SCHUSTER and McGRAW-HILL.
The CEO of the new JOURNAL MEDIA GROUP will be CINCINNATI-based SCRIPPS exec TIM STAUTBERG.. The JOURNAL MEDIA GROUP encompasses the company's print holdings such as THE JOURNAL-SENTINEL, 13 SCRIPPS daily newspapers and other JOURNAL PUBLISHING outlets. The MILWAUKEE company will be publicly traded with annual revenue between $625 and $545 million.
The executive and board appointments were mentioned in a recent filing by SCRIPPS with the U.S. SECURITIES AND EXCHANGE COMMISSION in NOVEMBER.
JOURNAL BROADCAST GROUP's MILWAUKEE holdings include News/Talk WTMJ-A (620) and Adult Hits WLWK-F (94.5 THE LAKE), which will lose its local headquarters to become part of SCRIPPS in CINCINNATI.
FERNANDEZ has been JOURNAL COMMUNICATIONS President since FEBRUARY 2012 and Chief Operating Officer since last year. He joined the company as CFO in 2008.