Attachment Attachment

This document pretains to SES-T/C-20140815-00661 for Transfer of Control on a Satellite Earth Station filing.

IBFS_SESTC2014081500661_1058174

EXHIBIT 1 Description of the Transaction and Public Interest Statement Journal Communications, Inc. (“Journal”), the indirect parent of NewsChannel 5 Network, LLC, (“Licensee”), has entered into a Master Transaction Agreement with The E. W. Scripps Company (“Scripps”), pursuant to which Journal will become a subsidiary of Scripps. This application is one of multiple applications related to the transfer of control contemplated by the Master Transaction Agreement. Specifically, this application seeks the Commission's consent to the transfer of control of Licensee to Scripps. The proposed transfer of control will be effectuated by the merger of Journal into a subsidiary of Scripps. Following the merger, Scripps will indirectly hold all of the issued and outstanding capital stock of Licensee. The application file numbers of the lead transfer of control applications related to the Master Transaction Agreement are BTCCDT‐20140815AAG and BTCCDT‐20140815AAI. Approval of this transfer of control application is in the public interest because it will allow the earth stations to continue to be used in the operation of the broadcast stations being transferred in connection with the Master Transaction Agreement.


Document Created: 2014-08-15 16:33:41
Document Modified: 2014-08-15 16:33:41
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