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E.W. Scripps selling more radio stations

E.W. Scripps Co. struck a deal to sell its two radio stations in Milwaukee to Good Karma Brands for $16 million.

The stations are WTMJ and WKTI. The transaction is expected to close in the fourth quarter, according to a July 27 news release.

In June, the company agreed to sell five radio stations in Tulsa, Okla., to Tulsa-based Griffin Communications LLC. Earlier this year, the company unveiled plans to sell its portfolio of 34 radio stations in eight markets.

Good Karma Brands is a sports marketing company based in Milwaukee.

Kalil & Co. Inc. is the exclusive broker for this transaction.