(Milwaukee) Good Karma Brands (GKB), parent company of AM1430 WBEV and 95.3 WXRO, has announced plans to purchase WTMJ and WKTI. Cincinnati based E.W. Scripps Company will sell their two Milwaukee-based stations to GKB for $16-million.
“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-in-class opportunities for our teammates, content for our fans, and solutions for our marketing partners.”
“In 1997, I had a meeting similar to the one I had today, where I met with a local news/talk station and a local country music station and introduced myself as the new owner,” Karmazin says, “WBEV and WXRO are where Good Karma Brands started, and where we learned what it means to care for the community in a way that looks after our teammates, listeners, fans, and advertising partners. Today’s announcement is exciting because we are able to collaborate and learn from two legacy stations in our home state. We’re excited for our teams and for the future of Good Karma Brands as we embark on this new adventure.”
The transaction will be filed with the FCC and upon approval, is expected to close in the fourth quarter.