Milwaukee-based Journal Communications, which owns the Milwaukee Journal Sentinel, AM 620 WTMJ and Channel 4 TMJ4, was one of the biggest beneficiaries of the recall election for Gov. Scott Walker.Oh, and there was also this from the Wisconsin Democracy Campaign, in its larger story about the obscene amounts of money thrown around in the last year of recalls.
The massive spending on political ads for the recall campaign helped Journal Communications boost its second quarter profit by 24 percent, compared to the second quarter of 2011, to net earnings of $7.61 million, the company reported today. Total revenue for the quarter was up 6 percent to $95.5 million.
“Journal Communications had a strong second quarter with operating earnings up 17 percent driven by political and issue advertising and a continuing recovery in many of our local broadcast markets,” said Steven Smith, chairman of the board and chief executive officer of Journal Communications.
The Republican Governors Association raises much of its cash from large corporations to support GOP candidates for governor around the country through a 527 group named for the U.S. Internal Revenue Service regulations that govern them. During the first six months of 2012 coinciding with the recall efforts against Walker, the association’s 527 outfit raised $29 million, including $792,725 from 19 Wisconsin trade groups, corporations and individuals led by the Metropolitan Milwaukee Association of Commerce which gave the group $437,725.Why did I bolden the MMAC? Well, because Steven Smith is a member of the MMAC's Executive Board, which means he was part of the group that decided to throw that $437,000+ to Walker's campaign.
Hmmm, no wonder JournalComm's newspaper endorsed Walker - the big boss had already laid down big bets on the guy. What a coincidence that JounalComm radio 620 and TV-4 has RW hacks like Sykes and Wagner constantly giving Walker free air time and giving pro-Walker propaganda!
Then Walker's campaign uses MMAC money to pay for huge amounts of ads on JournalComm radio AM620 and JournalComm TV-4. Which increases the profits for Smith, and allows him to chip into the MMAC's PAC coffers, which makes its way back to Walker's campaign. Kinda of a cool symbiotic relationship, isn't it?
The only people left out are the vast majority of Wisconsinites who need a Fourth Estate to tell them the truth. And now you know why you can't count on Journal Comm's organs to tell you the real story with this failing, corrupt administration- because they've made a lot of money in the process of making sure their boy Scotty stays in power.