Adams Radio Group Sale Closes
• Adams Radio Group on Friday announced that the company’s sale to Adams Radio Acquisitions Company has closed. The newly formed company will continue to operate as Adams Radio Group, under the leadership of new President & CEO Charlie Fritz (left), who was previously associated with Detroit-based Fritz Broadcasting. The new company will also be based in Detroit. Sharon Bordwell, current CFO of Adams Radio, will continue to serve the new company in the same capacity.
Outgoing Adams Radio Pres./CEO Ron Stone (right) originally served as VP/CFO for the first Adams Radio Group in the ’90s. That version operated until 1996 in multiple large markets, including Phoenix, Seattle, San Diego, San Antonio, Charlotte, St. Louis, Denver and other markets. In 1993 Stone was promoted to VP/Market Manager for the company’s St. Louis properties. In 2013 Stone reunited with Steve Adams to form a second Adams Radio Group, growing the company to five markets and 24 stations by 2017.
Stone will continue to serve as President and Executive Director of the Independent Broadcasters Association (IBA), an organization he founded in 2020 during the Covid pandemic to help independent broadcasters. Stone said, “Watch for some exciting news from the IBA soon as we move into our 4th year.” Stone says he will evaluate other opportunities as they may present themselves. He can be reached at stone.ron@IBA.media. Charlie Fritz can now be contacted at cfritz@adamsradiogroup.com. The transaction was handled by Kalil & Co., Inc.
