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Scripps, Journal Merger Gets Shareholder OK

In separately held meetings, E.W. Scripps and Journal Communications received approval from their shareholders for their proposed spinoffs and mergers.

Upon closing of the transactions, Scripps and Journal will merge their broadcast operations, creating an expanded Scripps, while spinning off and merging newspaper operations to form the publicly traded Journal Media Group.

The transactions are expected to close early in the second quarter of 2015.

The broadcast and digital media company will retain the E.W. Scripps name, and the Scripps family shareholders will continue to have voting control. The company will have approximately 4,000 employees.

Journal Media Group will combine Scripps' and Journal's print products. The company, with approximately 3,600 employees, will operate in 14 markets and be headquartered in Milwaukee.