21st Century Media
The Journal Register Company NYSE: JRC is an American media company, specializing in newspaper publishing. The company owns 22 daily and 310 non-daily newspapers and other publications concentrated in an arc from Connecticut to Michigan, including the Philadelphia area. In 2006, the company moved its headquarters to Yardley, Pennsylvania from Trenton, New Jersey.
According to Yahoo! finance, JRC's stock price fell to $0.31 as of 20 Mar 2008, from its 52-week high of $8.60, and as a result, according to the company's website, has been given notice by the New York Stock Exchange (NYSE) in the need of boosting its stock price to $1.00 or more within six months, or be delisted by the exchange. The company is led by chairman and CEO James W. Hall, who succeeded Robert M. Jelenic on November 1, 2007. Hall had been appointed interim CEO June 8 when Jelenic took a medical leave of absence to undergo cancer surgery.[1][2] In 2007, the company was carrying $646 million in debt,[3] largely as a result of its purchases. In September 2006, JRC was named one of the Ten Worst Managed Companies in America by 24/7 Wall Street[4]
Properties
The company owns daily and weekly newspapers, other print media properties and newspaper-affiliated local Websites in the U.S. states of Connecticut, Michigan, New York, Ohio, Pennsylvania and New Jersey.
JRC's flagship daily newspaper is the New Haven Register. Its ten largest daily newspapers (approximate daily circulation over 20,000) are:
- New Haven Register of New Haven, Connecticut (76,664)
- The Oakland Press of Pontiac, Michigan (63,174)
- Delaware County Daily and Sunday Times of Upper Darby Township, Pennsylvania (43,520)
- The Macomb Daily of Mount Clemens, Michigan (42,045)
- The Trentonian of Trenton, New Jersey (39,980)
- The News-Herald (Ohio) of Willoughby, Ohio (39,453)
- The Daily Local News of West Chester, Pennsylvania (27,087)
- The Morning Journal of Lorain, Ohio (26,777)
- The Mercury (Pennsylvania) of Pottstown, Pennsylvania (21,080)
- Daily Freeman of Kingston, New York (18,492)
History
In 2004, JRC bought 21st Century Newspapers, gaining ownership of several daily newspapers in Greater Detroit.
In 2006, JRC bought the Web site JobsInTheUS.com. It is also a major shareholder in consulting company PowerOne Media.
In early 2007, JRC completed the sales of its former Massachusetts and Rhode Island newspapers to GateHouse Media and RISN Operations, respectively.
External links
References
- ^ "Jelenic, Journal Register Chief, Takes Leave for Cancer Surgery" Editor & Publisher, 8 June 2007
- ^ "Jelenic, Journal Register Company Chairman and Chief Executive Officer, to Step Down on November 1, 2007" Press release issued 12 October 2007
- ^ "Could Journal Register (JRC) Miss Its Debt Service?" 24/7 Wall Street, 20 July 2007
- ^ "The Ten Worst Managed Companies In America: Conexant And Journal Register" 24/7 Wall Street 22 September 2006
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