Scripps, Journal Communications to Divvy Up Print, Broadcast Assets

E.W. Scripps and Journal Communications struck a deal to put their newspaper operations into one company and their broadcast assets into another, following in the footsteps of rivals.

The companies plan a series of spinoffs and stock-based mergers that would hand Journal Communications' local-television and radio stations to E.W. Scripps and E.W. Scripps newspapers to Journal Communications, whose flagship paper is the Milwaukee Journal Sentinel. The broadcast company will retain the E.W. Scripps name, while the newspaper company will be called Journal Media Group.