Journal Register Corporation CEO Robert Jelenic Resigns

YARDLEY, PA - Journal Register Corporation CEO Robert Jelenic will leave his job Nov. 1 to battle cancer, the company announced Friday.

Jelenic leaves the post after running the newspaper publishing company for 20 years to be with his family and fight the disease, according to a press release from the corporation.

Journal Register Corporation (NYSE: JRC) owns the Philadelphia-based Intercounty Newspaper Group, which publishes the Community News local weekly newspaper.

Jelenic will be replaced by longtime Board of Directors member James Hall, who has been acting as Chairman and CEO since Jelenic went on a medical leave of absence June 8.

"My 32 years in the newspaper industry have been extremely gratifying and rewarding," Jelenic said in the release. "In terms of my personal situation, I intend to continue to focus all my energies on reaching a full recovery."

Jelenic has led the corporation, which own 22 daily and 346 weekly newspapers and 227 individual websites nationwide, for the last 20 years.

The local paper moved from its Browns Mills office last year and now has a mailing address of 4 Main St., New Egypt, the office of sister paper, the New Egypt Press.

Stephanie Leicht, publisher for the Intercounty Newspaper Group was not available for comment Friday afternoon.

Intercounty owns 19 weekly newspapers in the South Jersey/Philadelphia area including the Community News.

"There will be little or no change (in the company)," JRC spokesman and Director of Investor Relations Judy Brenna said. "Everything is going as it was."

In the statement Friday, Hall said Jelenic "leaves a legacy of a strong management team" to tackle the struggling industry.

Brenna said the corporation is thinking about the direction and current challenges facing the newspaper industry as a whole.

"Advertising revenues are down," Brenna said. "It is a challenging environment."

JRC stock has dropped from more than $8 a share last year to just over $2.70. The stock closed for the week at $2.71 per share, down $.02 in low trading.