Journal Communications
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A small bloc of Journal stock was given to Harvard to fund the Nieman Fellowship program for promising journalists, and another bloc was still held by the original owning families until the IPO. The Milwaukee Sentinel, begun in 1837 as a weekly published by Solomon Juneau, passed through the hands of several owners before being sold to the Hearst Corporation in 1924. The new Journal Sentinel then became a seven-day morning paper. In 1964 Journal Communications bought a part interest in Perry Printinga commercial printer specializing in printing magazines, catalogs and free-standing inserts for publications . In 1968 the Midwestern Relay cable transmission division of the Journal Company was developed out of broadcast-related expertise; in 1991, Midwestern Relay acquired Norlight, a fiber-optic private carrier, and adopted the Norlight name.
Hearst operated the Sentinel until 1962, when, following a long and costly strike, it abruptly announced the closing of the paper. It publishes the Milwaukee Journal Sentinel, a daily newspaper, and it also owns television stations, radio stations and weekly newspapers, among other businesses. The Milwaukee Journal was started in 1882, in competition with four other English-language, four German- and two Polish-language dailies.
On February 26, 2007 Journal Communications sold the regional telecommunications provider to privately-held Q-Comm Corp of Delaware. (NYSE: JRN) is a publicly traded media company based in Milwaukee, Wisconsin.
It launched WTMJ-AM (620) in 1927, and WTMJ-TV (Channel 4) in 1947. In Ohio, Journal sold eight shoppers, numerous specialty print products and the Advantage Press commercial printing business to Gannett Company.
Journal Communications, Inc. In June 2007, Journal Communications sold off its JCP interests in Louisiana, Ohio, Connecticut and Vermont.
The Journal Company, until then primarily owned by local interests, introduced an employee stock trust plan in 1937, and as a result most Journal stock was eventually held by its employees (under certain restrictions). The sales brought in a combined $30 million. The company sold 11 community newspapers, five shoppers and two printing plants in Connecticut and Vermont to Hersam Acorn Newspapers.
Upon closing the transaction, Q-Comm terminated Jim Ditter, who had been president of Norlight since 1995, and chief financial officer Mike Garvey. What is now known as the Journal Community Publishing Group began in Waupaca, Wisconsin in 1972 as a publishing and printing company called Add Inc. (Headquarters: Waupaca, and New Berlin, Wisconsin) Florida Wisconsin .
A majority interest was purchased by Journal Communications in 1981, and the remainder in 1986. Although Hearst claimed that the paper had lost money for years, The Journal Company, concerned about the loss of an important voice (and facing questions about its own dominance of the Milwaukee media market), agreed to buy the Sentinel name, subscription lists, and any good will associated with the name.
