Journal Sentinel Sold

[Goose85]

The Gannett Company has reached an agreement to acquire Milwaukee-based Journal Media Group, which is the parent company of the Milwaukee Journal Sentinel, for $280 million.

Looks like no more corporate headquarters in Milwaukee, so I'm guessing there may be a building for sale.
After all of the attempts by the Mayor and the Bucks to get the JS folks to sell, just before ground breaking on the new arena the preferred site may become open after all, but just a little too late.

http://www.bizjournals.com/milwaukee...el-parent.html

[IWB]

Ok, Journal Media Group? What about Scripps? I thought that TV and radio were under Journal Media Group and the Journal was under Scripps?

So did Scripps do the selling or did the Journal?

[Nukem2]

Ok, Journal Media Group? What about Scripps? I thought that TV and radio were under Journal Media Group and the Journal was under Scripps?

So did Scripps do the selling or did the Journal?

TV is under the Scripps Group. We see the Scripps logo at the end of news broadcasts on Channel 4..

[IWB]

Correct, but I was under the impression that it was all owned by Scripps, just different divisions.

[Nukem2]

Correct, but I was under the impression that it was all owned by Scripps, just different divisions.

No. According to the Gannett Release, the Journal Media Group trades under the symbol JMG with separate shareholders. Guess that JMG was spun off to shareholders as part of the Scripps transaction.

[Goose85]

Either way, the mostly empty Journal and Sentinel buildings will become even more empty now.

Timing is everything.

[Nukem2]

Either way, the mostly empty Journal and Sentinel buildings will become even more empty now.

Timing is everything.

True, but that's rather irrelevant now in terms of the new arena. Doubt the Bucks would (or, even reasonably could ) backtrack at this point. Lost opportunity.

[TheSultan]

No. According to the Gannett Release, the Journal Media Group trades under the symbol JMG with separate shareholders. Guess that JMG was spun off to shareholders as part of the Scripps transaction.

Yes legally Scripps acquired all of Journal Communications, but then spun out the newspaper group.

[Goose85]

True, but that's rather irrelevant now in terms of the new arena. Doubt the Bucks would (or, even reasonably could ) backtrack at this point. Lost opportunity.

I agree. Move forward and get rolling on the project.

[The Reptile]

Wow, you guys are missing the bigger story. They sold for $279,999,999.00 more than they're worth. I guess that Gannett will buy bridges I don't own too.