Journal Communications sells AM station |
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Published
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Tue, 23 Jan 2007 21:04
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MILWAUKEE (AFX) - A division of publishing and broadcasting company Journal Communications Inc. said Tuesday it has agreed to sell Omaha, Neb., radio station KOMJ-AM, 'Magic 1490' to broadcasting company Cochise Broadcasting LLC.The division, called the Journal Broadcast Group, did not disclose the financial terms of the deal.Journal Communications President Doug Kiel said the sale will allow the company to complete the purchase of Omaha station, KMTV-TV, Channel 3, from broadcaster Emmis Communications Corp.In June 2005, Journal Communications said it would buy three TV stations -- including CBS affiliate KMTV-TV -- from Emmis for about $235 million.The company has been operating that station under a local marketing agreement since December 2005.Shares rose 5 cents to $13.19 in afternoon trading on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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