Milwaukee Radio: Scripps Sells WTMJ, WKTI

The E.W. Scripps Company has reached an agreement to sell its two radio stations in Milwaukee, Wisconsin, to Good Karma Brands for $16 million.

Wisconsin-based Good Karma Brands is purchasing News/Talk WTMJ 620 AM / 103.3 FM and Country WKTI 94.5 FM. The transaction is expected to close in the fourth quarter.  WTMJ has 50 Kw-D, 10-Kw night and is a simulcast on W277CV 103.3 FM with 250 watts. WKTI has 14 KW.

The sale is the second in what Scripps expects to be a series of radio sale transactions. In June, it announced the sale of five radio stations in Tulsa, Oklahoma, to Tulsa-based Griffin Communications.

The company announced in January its intent to sell its portfolio of 34 radio stations in eight markets.

“Good Karma Brands’ focus on Milwaukee makes the company an ideal home for these important local radio stations,” said Adam Symson, Scripps president and CEO. “The company’s expertise in connecting audiences and advertisers, particularly with sports marketing, means these stations will be well positioned for the future.

WTMJ 620 AM (50 Kw-D, 10 Kw-N) Daytime 2 mV/m contour

“At Scripps, we are on track for the sale of our entire radio station group as a component of our enterprise-wide strategy to divest of non-core assets and focus on improving our near-term operating performance while fostering the growth ahead.”

WKTI 94.5 FM (14 Kw) Red=Local Coverage Area

Good Karma Brands is a sports marketing company based in Milwaukee. It owns and operates six ESPN-affiliated radio stations, including WAUK 540 AM in Milwaukee and WTLX 100.5 FM in Madison, Wisconsin.

Craig Karmazin

“We’re thrilled to welcome WTMJ and WKTI to the GKB family,” said Craig Karmazin, Good Karma Brands founder and chief executive officer. “The heritage, prestige, and team at the stations, in addition to their incredible sports partnerships, fit our commitment to provide best-inclass opportunities for our teammates, content for our fans, and solutions for our marketing partners.”

Good Karma Brands is a sports media and entertainment company with expertise in local sports marketing activation. Its assets include a number of premium brands, including an events division that produces the Wisconsin Sports Awards, the Tundra Trio hospitality houses in Green Bay, and the Cheribundi Tart Cherry Boca Raton Bowl, as well as ESPN media assets in Baltimore (Digital), Cleveland (Digital/Radio), Madison (Digital/Radio), Milwaukee (Digital/Radio), Washington D.C. (Digital) and West Palm Beach (Digital/Radio).

The transaction will be filed with the FCC and upon approval, is expected to close in fourth
quarter.