Journal Communications Reports July Revenue for Its Publishing and Broadcast Groups

Note that unless otherwise indicated, all comparisons are to the seventh period ended July 29, 2007.

At the Publishing segment, revenues at the daily newspaper and the community newspapers and shoppers totaled $17.21 million, down 9.5% compared to $19.01 million. Advertising revenue was $12.02 million, down 13.8% compared to $13.95 million. Circulation revenue of $3.95 million was down 0.6%. Other revenue of $1.23 million was up 13.4%.

At the daily newspaper, total advertising revenue was $9.62 million, down 14.6% compared to $11.26 million. Specifically, retail advertising revenue was down 4.3%, classified advertising revenue was down 25.2%, national advertising revenue of $0.40 million decreased 39.2% and direct marketing revenue of $0.19 million was up 5.0%. Within classified advertising, the help wanted, real estate/rentals and auto verticals were down 27.7%, 35.5% and 23.6%, respectively, and the other classified vertical was up 1.5%. Circulation revenue at the daily newspaper was $3.87 million. Other revenue at the daily newspaper of $1.01 million was up 31.3% compared to $0.77 million primarily due to the addition of new commercial printing customers. Total interactive advertising revenue at the daily newspaper, which is reflected in the various revenue categories, increased 24.0% to $1.24 million compared to $1.00 million.

At the Company's community newspapers and shoppers operations, total advertising revenue was $2.41 million, down 10.5% compared to $2.69 million. This largely reflects declines in retail advertising revenue (down 10.2%) and classified advertising revenue (down 12.0%), primarily due to the challenging economy. Other advertising revenue was $19,000. Circulation revenue at the community newspapers and shoppers of $85,000 increased 19.7%. Other revenue at the community newspapers and shoppers of $0.22 million decreased 30.1%.

At the Broadcasting segment, total revenue at the Company's radio and television stations of $14.56 million decreased 3.1% compared to $15.02 million. At the television group, revenue decreased 3.0% to $8.47 million compared to $8.74 million, largely from softness in the Tucson and Ft. Myers markets, partially offset by a $0.56 million increase in political and issue advertising. At the radio group, revenue of $6.09 million was down 3.1% compared to $6.28 million, reflecting softness in all of our radio markets except Milwaukee and a $37,000 decrease in political and issue advertising.

Forward-Looking Statements

This press release contains certain forward-looking statements related to our businesses that are based on our current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Our written policy on forward-looking statements can be found on page 1 of our most recent Annual Report on Form 10-K and on page 20 of our most recent Quarterly Report on Form 10-Q, each as filed with the Securities and Exchange Commission.

About Journal Communications

Journal Communications, Inc., headquartered in Milwaukee, Wisconsin, was founded in 1882. We are a diversified media company with operations in publishing, radio and television broadcasting, interactive media and printing services. We publish the Milwaukee Journal Sentinel, which serves as the only major daily newspaper for the Milwaukee metropolitan area, and 52 community newspapers and shoppers in Wisconsin and Florida. We own and operate 35 radio stations and 12 television stations in 12 states and operate an additional television station under a local marketing agreement. Our interactive media assets include more than 121 online enterprises that are associated with our daily and community newspapers and television and radio stations. We also provide a wide range of commercial printing services--including printing of publications, professional journals and documentation material--and operate a direct marketing services business.

Tables Follow

Journal Communications, Inc. Publishing Segment Information (unaudited) (dollars in thousands) Publishing revenue by category: ---------------------------------------------------------------------- Seventh period of 2008 (A) ----------------------------- Community Daily Newspapers Newspaper & Shoppers Total --------- ---------- -------- Advertising revenue: Retail $5,636 $1,949 $7,585 Classified 3,391 439 3,830 National 402 -- 402 Direct Marketing 188 -- 188 Other -- 19 19 --------- ---------- -------- Total advertising revenue 9,617 2,407 12,024 Circulation revenue 3,869 85 3,954 Other revenue 1,008 221 1,229 --------- ---------- -------- Total revenue $14,494 $2,713 $17,207 ========= ========== ======== Seven periods of 2008 (B) ----------------------------- Community Daily Newspapers Newspaper & Shoppers Total --------- ---------- -------- Advertising revenue: Retail $46,822 $16,028 $62,850 Classified 27,784 3,202 30,986 National 3,922 -- 3,922 Direct Marketing 1,822 -- 1,822 Other -- 214 214 --------- ---------- -------- Total advertising revenue 80,350 19,444 99,794 Circulation revenue 28,706 625 29,331 Other revenue 8,733 1,890 10,623 --------- ---------- -------- Total revenue $117,789 $21,959 $139,748 ========= ========== ======== Seventh period of 2007 (A) ----------------------------- Community Daily Newspapers Newspaper & Shoppers Total --------- ---------- -------- Advertising revenue: Retail $5,890 $2,170 $8,060 Classified 4,534 499 5,033 National 661 -- 661 Direct Marketing 179 -- 179 Other -- 20 20 --------- ---------- -------- Total advertising revenue 11,264 2,689 13,953 Circulation revenue 3,905 71 3,976 Other revenue 768 316 1,084 --------- ---------- -------- Total revenue $15,937 $3,076 $19,013 ========= ========== ======== Seven periods of 2007 (B) ----------------------------- Community Daily Newspapers Newspaper & Shoppers Total --------- ---------- -------- Advertising revenue: Retail $49,401 $17,104 $66,505 Classified 35,666 3,566 39,232 National 4,981 -- 4,981 Direct Marketing 2,347 -- 2,347 Other -- 271 271 --------- ---------- -------- Total advertising revenue 92,395 20,941 113,336 Circulation revenue 29,430 655 30,085 Other revenue 7,229 2,376 9,605 --------- ---------- -------- Total revenue $129,054 $23,972 $153,026 ========= ========== ======== % Change % Change % Change Daily CN&S Total --------- --------- --------- Advertising revenue: Retail (4.3) (10.2) (5.9) Classified (25.2) (12.0) (23.9) National (39.2) N/A (39.2) Direct Marketing 5.0 N/A 5.0 Other N/A (5.0) (5.0) Total advertising revenue (14.6) (10.5) (13.8) Circulation revenue (0.9) 19.7 (0.6) Other revenue 31.3 (30.1) 13.4 Total revenue (9.1) (11.8) (9.5) % Change % Change % Change Daily CN&S Total --------- --------- --------- Advertising revenue: Retail (5.2) (6.3) (5.5) Classified (22.1) (10.2) (21.0) National (21.3) N/A (21.3) Direct Marketing (22.4) N/A (22.4) Other N/A (21.0) (21.0) Total advertising revenue (13.0) (7.1) (11.9) Circulation revenue (2.5) (4.6) (2.5) Other revenue 20.8 (20.5) 10.6 Total revenue (8.7) (8.4) (8.7) (A) 2008 seventh period: June 30, 2008 to July 27, 2008. 2007 seventh period: July 2, 2007 to July 29, 2007. (B) Seven periods of 2008: December 31, 2007 to July 27, 2008. Seven periods of 2007: January 1, 2007 to July 29, 2007. NOTE: Publishing segment information is provided to facilitate comparison of our publishing segment results with those of other publishing companies and is not representative of the overall business of Journal Communications or its operating results. The revenues for the period are not necessarily indicative of the results that may be expected for the fiscal year ending December 28, 2008.

Journal Communications, Inc. Broadcasting Segment Information (unaudited) (dollars in thousands) Broadcasting revenue by television and radio: ---------------------------------------------------------------------- Seventh period of 2008 (A) Seventh period of 2007 (A) --------------------------- --------------------------- Television Radio Total Television Radio Total ---------- ------- -------- ---------- ------- -------- Revenue $8,474 $6,085 $14,559 $8,739 $6,279 $15,018 ========== ======= ======== ========== ======= ======== Seven periods of 2008 (B) Seven periods of 2007 (B) --------------------------- --------------------------- Television Radio Total Television Radio Total ---------- ------- -------- ---------- ------- -------- Revenue $73,410 $43,945 $117,355 $76,274 $46,469 $122,743 ========== ======= ======== ========== ======= ======== % Change % Change % Change Television Radio Total ---------- -------- -------- Revenue (3.0) (3.1) (3.1) % Change % Change % Change Television Radio Total ---------- -------- -------- Revenue (3.8) (5.4) (4.4) (A) 2008 seventh period: June 30, 2008 to July 27, 2008. 2007 seventh period: July 2, 2007 to July 29, 2007. (B) Seven periods of 2008: December 31, 2007 to July 27, 2008. Seven periods of 2007: January 1, 2007 to July 29, 2007. NOTE: Broadcasting segment information is provided to facilitate comparison of our broadcasting segment results with those of other broadcasting companies and is not representative of the overall business of Journal Communications or its operating results. The revenues for the period are not necessarily indicative of the results that may be expected for the fiscal year ending December 28, 2008.

SOURCE: Journal Communications, Inc.

Journal Communications, Inc. Executive Vice President and Chief Financial Officer Paul M. Bonaiuto, 414-224-2728