Wednesday, March 11, 2015

Delmarva Radio: Adams Closes On Great Scott Stations

Adams Radio Group has closed on the acquisition of the majority of assets held by Great Scott Broadcasting in Salisbury – Ocean City, MD.

The acquisition includes:
  • WGBG 98.5 FM and WJWK 1280 AM (both licensed to Seaford, DE), 
  • WJWL 900 AM and WZBH 98.5 FM (both licensed to Georgetown, DE)
  • WKHI 107.7 FM (licensed to Fruitland, MD)
  • WOCQ 103.9 FM (licensed to Berlin, MD). 
The deal also includes FM Translators W242AV and W262BF.

Ron Stone
Ron Stone, President and CEO of Adams said “We are extremely excited that we have finally closed on this market. They say good things come to those who wait…and wait we did! This cluster represents a rare opportunity with amazing unlocked value. These stations are a great compliment to our company’s other markets.”

This is the fourth market for Adams Radio Group since reentering the radio business.

Adams owns and operates clusters in Las Cruces, NM, Fort Wayne, IN and suburban Chicago area in Northwest Indiana referred to as “The Region”.

Phil LoCascio, Adams Market Manager, added: “You can only imagine my excitement to finally get to work! Sitting on the sidelines for 2 months was gut wrenching…but worth the wait. We are inheriting a great core team that is extremely happy to move on to the next chapter and create GREAT radio on the Delmarva Pennisula!”

Kalil & Company was the broker in the transaction.

No comments:

Post a Comment