DMC Unveils New Digital Media and Broadcast Operating Divisions

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September 10, 2009
Contact: Craig Haslam
801-575-7513

Salt Lake City - Deseret Management Corporation (DMC) today announced the creation of two new operating divisions - the Deseret Digital Media Division (DDM) and the KSL Broadcast Division (KSL), the latter including the flagship stations KSL Television and KSL NewsRadio.

Deseret Digital Media and the KSL Broadcast Division have been created to better leverage the strengths and journalistic professionalism by which DMC's communications companies, which also include the Deseret News and Deseret Book, serve the Salt Lake City market, Utah's communities, and other interested national and international audiences.

Deseret Digital Media will be led by Clark Gilbert, who will serve as its president and chief executive officer.  Mr. Gilbert currently serves as an associate academic vice president at BYU-Idaho, overseeing the growth of the university's online initiative and educational outreach efforts. Previously, he taught at the Harvard Business School, where he focused on innovation in digital news media.  He is an expert in online business model strategy and has helped found several new media start-ups.

The KSL Broadcast Division will be guided by Bob Johnson, who will serve as president and chief executive officer.  Mr. Johnson currently serves as Bonneville International executive vice president and its Salt Lake market manager.  He has been involved in Bonneville operations since 1996.  Previously, he served as Bonneville general counsel and also practiced law in Washington, D.C., and Salt Lake City.

"We see tremendous strategic advantage," said DMC President and CEO Mark Willes, "in aligning the focus and facilitating the collaboration of our respective media divisions.  Further, like media companies everywhere, our print and broadcast companies have been under tremendous economic pressure. We have found, and will continue to find, ways to reduce costs and operate more efficiently.  Thankfully, our owner allows us to think about long-term opportunities as well as short-term challenges.  It is willing to let us take some of our cost savings and invest for the future, which is what we are doing with the actions being announced today.

"Building on what has gone before, we see significant opportunities to grow the KSL brand and business in its home market," he continued.  "We also see some very interesting ways to grow our Internet businesses, both locally and around the world."

▪  Deseret Digital Media

The creation of Deseret Digital Media, Mr. Willes pointed out, is a natural progression in Internet development that capitalizes on the proven successes of DMC's several New Media activities.  The newly created digital division will manage the Web sites and business operations for DeseretBook.com, DeseretNews.com, KSL.com, LDSChurchNews.com, and Mormontimes.com, strengthening the relationships across those digital properties. 

Mr. Gilbert stated, "With nearly four million unique users and well over 200 million impressions per month, the existing Internet sites in the DMC family already comprise one of the top local-market digital networks in the country.  We will use the focus of this new digital division to build the financial strength needed to support expanded growth for our online businesses.  Going forward, our mission is to extend our communications and E-commerce efforts to national and international markets.  The reach of online media allows the DMC companies to connect with audiences in new and increasingly dynamic ways. 

"Our goal," he added, "is to extend the reach and impact of our existing properties and to find new opportunities to be strategic to our ownership.  We will find innovative ways to use technology to further break down the barriers of time and space and connect people to news as well as to other online content that will enrich their lives."  Part of the expanded reach will be an effort to develop new digital sites targeted at increasingly diverse audiences.

▪  KSL Broadcast Division

The KSL Broadcast Division will focus its attention on two nationally recognized stations and top-rated broadcasting icons. KSL Television and KSL NewsRadio perennially have led local news ratings with their quality, values-oriented products.

"Today's announcement," Mr. Johnson said, "regarding the repositioning of KSL Television and KSL NewsRadio within the DMC family of companies marks a new chapter for these heritage broadcasting stations. And as we reflect on that new chapter, KSL Television and KSL NewsRadio will remain fully committed to providing balanced, unbiased, and comprehensive coverage of the news of our Salt Lake and Utah communities.  We also look forward to an increased level of professional teamwork among the DMC assets, which will make available to KSL the additional and remarkable talents found at the Deseret News and the new Deseret Digital Media."

▪  Bonneville International

Bonneville International Corporation (www.bonneville.com) will continue to be guided by Bruce Reese, its president and chief executive officer.  Bonneville owns and operates 28 affiliate radio stations in eight national markets, including Salt Lake City stations KSFI (FM 100) and KRSP (103.5 The Arrow). Mr. Reese said that Bonneville will continue to provide, as it has since its founding in 1964, the same high-quality, values-oriented products and community service for which it has achieved industry-wide recognition and national acclaim.

According to Mr. Reese, "The decision to separate KSL Television and KSL NewsRadio from the Bonneville organization is completely consistent with DMC's goals and the heritage of the KSL stations. Obviously, we will miss our intimate working relationship with our KSL colleagues.  At Bonneville, we have terrific opportunities to expand and grow our core businesses, given the quality of people we've been fortunate to attract and the service all of us deliver to our communities.  I remain honored to lead the remarkably talented associates who will continue to comprise our Bonneville family."

▪  Deseret Management Corporation

In addition to Bonneville International, DDM, and KSL Broadcasting, Deseret Management Corporation (www.deseretmanagement.com) also directs and manages other commercial divisions, including Beneficial Financial Group, Deseret Book, Deseret News, Hawaii Reserves, Temple Square Hospitality, and Zions Securities.