Media and communications company Journal Communications, Inc. (JRN), announced Wednesday that Doug Kiel, the Chief Executive Officer of Journal Broadcast Group and a President of the company, is retiring on December 27 to pursue starting his own company. The Milwaukee, Wisconsin-based company's incumbent chairman and CEO, Steven Smith, would assume the role for the foreseeable future. Journal Communications shares are losing more than 8% on the New York Stock Exchange
Kiel joined Journal Communications in 1987 as Vice President and General Manager of WKTI-FM, and during his stint, managed WTMJ TV, Channel 4, and assumed responsibility for the Broadcast Group in 1992. He became President of Journal Communications in 1998.
During his tenure, Journal Broadcast Group experienced significant growth and he was responsible for the purchase of the Great Empire Broadcasting Radio Group, Desert Empire Television and three Emmis Communications television stations. Kiel also added stations in a number of Journal markets to leverage existing investments.
Journal Communications is the publisher of the Milwaukee Journal Sentinel and operates JSOnline. Journal Broadcast Group owns and operates 33 radio stations and 13 television stations in 12 states and operates an additional television station under a local marketing agreement.
JRN is currently trading at $3.70, down $0.35 or 8.64%, on the NYSE.
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