The E.W. Scripps Co. is selling two Milwaukee radio stations as part of a restructuring that involves the divestiture of all of its 34 radio stations.
Scripps acquired WTMJ-AM and WKTI-FM in 2015 when it merged with Journal Communications.
A release from the company said the move is aimed at “creating a stronger, more streamlined and higher-performing company through comprehensive restructuring and cost reductions expected to yield more than $30 million in annual cost savings.”
Scripps has retained Kalil & Co., Inc. to handle the process.
The company will continue to own the 33 television stations it owns in the US, including WTMJ-TV in Milwaukee.