OLD Media Moves

Two ex-business journalists run for Journal Communications board

December 10, 2008

A former business editor of the Milwaukee Journal Sentinel, and a former business reporter for the paper, are running for the board of its parent company, Journal Communications, reports Paul Gores of the Journal Sentinel.

Gores writes, “The candidates are:

• Paul E. Kritzer, 66, who worked for 24 years as a company executive, mainly as general counsel, before retiring in 2007.

• John B. Torinus Jr., 71, chairman of Serigraph Inc. in West Bend and a former Milwaukee Sentinel business editor. Torinus writes a column that appears in the Journal Sentinel’s Sunday business section.

• Douglas D. Armstrong, 63, former business news reporter and movie critic, who worked 33 years for the Journal and Journal Sentinel and was president and majority owner of Lexington Software Corp. after retiring from the newspaper in 2000.

“In announcing their candidacies for the board, the three cited the decline of Journal Communications stock from a high of $20 in 2004 to about $2 in recent trading. The stock closed down 17 cents Tuesday at $1.96. The trio of candidates said the dividend level should be protected, cash should be conserved, debt should be reduced, further acquisitions of traditional media should be deferred, and the company’s growth strategy should be reassessed.”

Read more here.

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