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The move is related to a broader plan that includes both chains spinning off their combined newspaper properties into a new publicly traded company. Shareholders of Scripps and Journal Communications still have to approve the transaction, which is expected to close in the first half of 2015.
The FCC approval is related to another piece of both chains’ plan, which is for control of the Journal Communications TV and radio stations licenses to transfer to Scripps, since they’re merging broadcast operations including Scripps’ 21 local TV stations and Journal’s 13 TV stations and 34 radio stations. The combined broadcast and digital media company will keep the Scripps company name.
The new newspaper company, Journal Media Group, will be based in Milwaukee.