Madison's Channel 27 News has reported in a bit more detail on their website yesterday.
Thompson and his fellow investors appear confident, their connection to indicted financier Nicholas Hurtgen won't doom their dream of buying scores of radio stations.
Thompson's group, Armada Media, has applied to the Federal Communications Commission to buy six South Dakota stations.
And the FCC does look at character issues.
Days before Thompson ruled out another run for Governor, Thompson and his half dozen partners made their FCC application.
Madison businessman Terry Shockley is one of the partners.
Shockley told 27 News the proposed South Dakota purchases is just the beginning of planned radio station acquisitions.
"85 to 150 stations," Shockley told 27 News. "Could it be larger? I think there's a sense that it could get larger."
Shockley formerly owned WKOW-TV, which operates 27 News.
One of Shockley and Thompson's co-owners at Armada Media, Hurtgen, is a Thompson political ally and former state official who faces a federal indictment in Illinois for allegedly resorting to extortion to try to win a multi million dollar hospital construction contract for an associate.
Hurtgen faces up to eighty years in prison if convicted.
This is the same Nicholas Hurtgen that gave over $4,000 to Mark Green. He is the same person that allegedly helped organize a fundraiser for Scott Walker shortly after his firm got a bond deal with Milwaukee County. Hurtgen's wife also gave $2,500 to Scott Walker in 2004.