Shareholders Approve Scripps-Journal Merger
March 12, 2015 at 3:52 AM (PT)
Shareholders of THE E.W. SCRIPPS CO. and JOURNAL COMMUNICATIONS INC. have voted to approve the companies' merger and spinoff into two companies.
The deal will result in two entities, CINCINNATI-based SCRIPPS holding the combined broadcasting properties and the new MILWAUKEE-based JOURNAL MEDIA GROUP holding publishing properties.
JOURNAL Chairman/CEO STEVEN J. SMITH told employees in a memo that the deal is expected to close in early second quarter.