From employee- to publicly owned: why rising debt caused Journal Communications to go public--and what that means for its future.(The Newspaper Business)

American Journalism Review,  October, 2003  by Morton, John

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The Milwaukee Journal Sentinel has been among the most venerable of employee-owned newspapers, beginning with the creation of an employee trust in 1937 by owner Harry J. Grant that now owns 90 percent of the company. (Grant heirs own the rest.)

Over the years, though, the company has grown from a single daily and a local radio station into a complicated conglomerate known as Journal Communications, owning weeklies, television and radio stations and telecommunications and commercial-printing operations in 23 states.

And like other employee-owned companies before it, Journal ...

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