Morgan Murphy Media and a group of local investors will join in the purchase two Milwaukee radio stations, WTMJ and WKTI.
A release from Morgan Murphy Media said it’s joining Good Karma Brands in the purchase that’s expected to close in November.
Morgan Murphy Media is the parent company of WISC-TV in Madison and WKBT-TV in La Crosse.
In July, Good Karma Brands founder and CEO Craig Karmazin announced the purchase of the two stations from E.W. Scripps Co. The company will own and operate the stations after the purchase is complete.
“Craig and his team at Good Karma Brands truly understand what it means to serve a local community,” Brian Burns, executive vice president and chief operating officer of Morgan Murphy Media, said in the release. “We are excited to be in business with a group of people we’ve known for years who have an outstanding track record of success.”
Steve Wexler will run the group as vice president and market manager, according to the release. Wexler will oversee WTMJ, WKTI, 540 ESPN, ESPN Digital, the Wisconsin Sports Awards and the Tundra Trio.
Other local investors will be joining Morgan Murphy Media and will bring business, media and sports marketing expertise to Good Karma’s Milwaukee assets, according to the release. The other local investors include Ted Kellner, Chairman and CEO of T&M Partners, LLC; Gale and Judi Klappa, Gale is Chairman and Chief Executive of WEC Energy Group, David Marcus, CEO of Marcus Investments and Greg Marcus, CEO of Marcus Corporation.
“We’re thrilled to welcome longtime friends, business partners and members of the community to the Good Karma Brands team,” Karmazin said in the release. “The addition of prominent local investors will further our relationship with the Milwaukee community, and paired with Steve Wexler’s leadership, will help guide our businesses to greater heights. Good Karma’s focus has always been serving our marketing partners, fans and teammates, and today’s announcement is a huge boost for all three.”
