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VOL. 129 | NO. 148 | Thursday, July 31, 2014

Scripps To Spin-Off Newspapers Including Commercial Appeal

By Bill Dries

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The E.W. Scripps Co. of Cincinnati announced Wednesday, July 30, that it will spin off its newspapers, including The Commercial Appeal, in 2015 into a new Journal Media Group to be headquartered in Milwaukee along with newspapers from the Journal Media Group of Milwaukee.

Scripps will own and operate the combined television and radio stations of both companies in 27 markets and exit the newspaper business entirely. The company began in 1878 as a newspaper company in Cleveland, Ohio that published a newspaper called “Penny Press.”

In the mergers and spinoffs, Scripps shareholders will own 59 percent of Journal Media Group and 69 percent of the new Scripps broadcasting business.

The two publicly traded companies will be separate entities.

Executives of both companies were expected to talk more about the deal with analysts and investors in an 8 a.m. Thursday webcast.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 98 312 11,432
MORTGAGES 149 386 14,289
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 144 693 24,727
BANKRUPTCIES 60 244 8,676
BUSINESS LICENSES 11 93 3,864
UTILITY CONNECTIONS 79 453 13,909
MARRIAGE LICENSES 9 70 3,101

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