Notes: March 13, 2015 -- The boards of directors of The E.W. Scripps Company (NYSE: SSP) and Journal Communications (NYSE: JRN) have set the record dates related to the spin-offs of their respective newspaper businesses and, with respect to Scripps, the payment of a special cash dividend. Both Scripps and Journal shareholders of record as of the close of business on March 25, 2015, will receive shares in Journal Media Group, the independent newspaper company created by the spin-offs, payable upon the closing of the transactions. The Scripps board also declared a $60 million special cash dividend, which equates to about $1 per share, for shareholders of record of Scripps as of the close of business on March 25, 2015, payable upon the closing of the transactions. The closing date of the transactions is currently scheduled for April 1, 2015. On the closing date, Scripps and Journal will simultaneously spin off and merge their newspaper operations to form Journal Media Group and immediately thereafter merge their broadcast operations, making Scripps the fifth-largest independent TV station owner. When-issued trading for Journal Media Group stock will begin on March 23, 2015. On that date, Scripps class A common shares will begin trading on an ex-distribution and when issued basis. When completed, Scripps shareholders will own 69% of the broadcasting company and 59% of Journal Media Group. ________________ March 11, 2015 -- E.W. Scripps Company (NYSE: SSP) and Journal Communications (NYSE: JRN) 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 simultaneously spinning off and merging their newspaper operations to form a new publicly traded company called Journal Media Group. NYSE: JMG. The transactions are expected to close early in the second quarter of 2015. The merged broadcast and digital media company will retain The E.W. Scripps Company name, and the Scripps family shareholders will continue to have voting control. The company will have approximately 4,000 employees across its television, radio and digital media operations. Journal Media Group will combine Scripps' daily newspapers, community publications and related digital products with Journal Communications' Milwaukee Journal Sentinel, Wisconsin community publications and affiliated digital products. The company, with approximately 3,600 employees, will operate in 14 markets and be headquartered in Milwaukee. Scripps will continue to trade under the symbol SSP (NYSE) and Journal Media Group will trade under the symbol JMG (NYSE). There are no other regulatory or shareholder-level approvals for completion of the transaction. Scripps shareholders will receive a $60 million special dividend. The two companies will announce on or about Friday, March 13, the record date for the Scripps special cash dividend and the Scripps and Journal publishing spin-offs.