Craig Karmazin
Craig Karmazin (born July 11, 1975) is the founder and Chief Executive Officer of Good Karma Brands (GKB), and the son of Mel Karmazin, former CEO of Sirius Satellite Radio and former CEO of Viacom.[1]
Craig Karmazin | |
|---|---|
| Born | July 11, 1975 Northern New Jersey |
| Alma mater | B.B.A. Emory University |
| Occupation | GKB Founder/CEO |
| Known for | Founder of Good Karma Brands (GKB) |
| Children | 1 |
| Parent(s) | Sharon Karmazin Mel Karmazin |
Early life and education
Karmazin was born to a Jewish family in northern New Jersey,[2][3] the son of Sharon and Mel Karmazin. His father is the former chief operating officer of Sirius Satellite Radio and former president and chief operating officer of Viacom. His mother is the retired director of the East Brunswick Library and established the Karma Foundation dedicated to the development and enrichment of Jewish life.[4] He attended Hebrew school.[2] His parents divorced in 1994. His first job was selling bikes at The Sports Authority.[5] He graduated from Emory University with a B.B.A.[5] He has one sister, Dina Leslie Karmazin Elkins (born 1971).[6]
Career
In 1997, Karmazin interned at Infinity-owned WIP in Philadelphia.[2] In 1998, Karmazin founded Good Karma Broadcasting, a sports radio firm in Beaver Dam, Wisconsin, 40 miles northeast of Madison, Wisconsin.[3] Karmazin liked the area due to its proximity to the University of Wisconsin campus as well as being in the heart of Green Bay Packer territory.[3] In 1997, he secured a $3.5 million loan from a New York City bank and purchased three radio stations in the Madison area[3] and then went on to purchase more stations in small towns: two in Wisconsin and one in Rockford, Illinois. He then entered larger markets purchasing a station West Palm Beach, Florida and two in Milwaukee, Wisconsin (WAUK, and formerly, WRRD)[7], and affiliated those stations with ESPN Radio.[3]
In 2006, he entered the Cleveland market simultaneously purchasing the gospel music station WABQ 1540 and the rights to the ESPN brand from sports talk station 850 WKNR, reformatting WABQ as a sports station. A short time later, he purchased WKNR. The net cost for both stations was $9.5 million.[3] As of 2012, Good Karma Broadcasting owns twelve radio stations in four states including eight ESPN-affiliated, sports radio stations.[5][7] In 2012, Good Karma expanded its operations opening three remodeled houses near Lambeau Field in Green Bay to entertain clients and fans as well as a Verizon Wireless store in Beaver Dam.[7]
On July 16, 2014, it was reported that Karmazin purchased a minority stake in the Milwaukee Bucks of the National Basketball Association (NBA).[8] Karmazin purchased the flagship station of the Packers and Brewers, WTMJ Radio, along with WKTI in the fall of 2018 from the E. W. Scripps Company, converting WKTI to a local sports station affiliated with ESPN Radio, with WAUK moving to a national schedule (WTMJ's schedule has remained as-is).
References
- GKB leadership - Good Karma Brands.com
- South Florida Business Journal: "Boyhood friends grow radio group" by Alexis Muellner October 20, 2003
- IB Magazine: "Like Father, Like Son April 2007
- New Jersey Jewish News: "NJ producer brings Potok book to the stage" by Debra Rubin February 25, 2013
- Sports Business Daily: "Forty Under 40 - Craig Karmazin" March 18, 2013
- New York Times: "WEDDINGS; Dina Karmazin, Andrew Elkins" November 01, 1993
- Milwaukee Journal Sentinel: "Son of Sirius CEO creates own radio mini-empire based in Beaver Dam" By Bill Glauber July 28, 2012
- Karmazin buys stake in Bucks - Fox 6 Now.com