Journal Communications yesterday announced another deal to sell some assets outside its core newspaper/radio/TV businesses. Three specialty publications based in Louisiana, operated as the Louisiana Publishing Group of Journal Community Publishing Group, are being sold to Target Media Partners.
"Target Media is delighted to welcome the entire team at News on Wheels, Steals 'n Deals and Photo Seller, and all their readers and advertisers, to our current family of 77 publications and 40 targeted websites. Each month we reach more than five million targeted readers, and we look forward to continued growth for these great newly added publications in their rebounding markets," said Jim Sington, EVP of Target Media.
Terms of the sale were not disclosed and Louisiana Publishing Group will now be treated as discontinued operations for financial reporting by Journal Communications, beginning with its Q2 report.
"We made the strategic decision to sell our Louisiana-based publishing operations to more closely focus our community newspaper and shopper clusters in areas where we either currently have, or can create, a deep media offering," said Elizabeth "Betsy" Brenner, President and COO of Journal Communications' Publishing Group.