Journal Broadcast Group's CFO to Retire

MILWAUKEE: Ron Kurtis, senior vice president and chief financial officer for the Journal Broadcast Group, announced his pending retirement today. He will step down Dec. 27, 2009, after 36 years with Journal Communications.

“Ron has been an integral member of our leadership team and I have truly valued his knowledge of the industry and financial guidance as we have grown our broadcast group,” said Doug Kiel, vice chairman and CEO. “He leaves our company with our thanks and appreciation for a job well done and our hope that he will enjoy his retirement.”

Journal’s 13 TV stations broke even for the third quarter, while revenues fell around 24 percent compared to a year ago.

Journal items:
October 20, 2009: “Journal TV Station Revenues Fall 24 Percent”
Third-quarter revenues for Journal’s 13 TV stations came in around 24 percent less than one year ago.

July 27, 2009: “Gamco Buys More Stock in Journal
Gameco Investors, Gabelli Funds and Teton Advisors, collectively added 900,000 shares of Journal.

July 21, 2009
: “Journal 2Q Broadcast Revenues Drop 18 Percent”
TV segment revenues totaled $26.7 million for the quarter ending May 29, 2009, compared to $32.6 million a year ago.

April 3, 2009: “Journal Communications Imposes Pay Cut
The top echelon of employees at Journal Communications will have to take off 10 unpaid days this year.

April 1, 2009: “LIN Posts $830 Million Loss on $1 Billion Charge
... Journal Communications, with 12 TV stations, wrote down nearly $78 million....

March 4, 2009: “Journal Posts 4Q Loss on Write-down
The 12 TV stations owned by Journal Communications generated revenues of $33.4 million for 4Q08, down 5.5 percent from 4Q07’s $35.3 million.

July 2, 2008: “Journal Communications Agrees to Pony $8 Million for KNIN-TV
The Journal Communications broadcast division has agreed to buy KNIN-TV in Boise, Idaho for $8 million.