Adams Radio Group Sold
• Adams Radio Group President & CEO Ron Stone announced that the company is being acquired by Adams Radio Acquisition Co., LLC The new entity is controlled by shareholders that were investors in Adams Radio Group when the group was originally formed in 2013. The company will continue operating under the Adams banner.
Stone (left) said, “I’m grateful to Steve Adams for the opportunity to build a second Adams Radio Group. I served as Steve’s CFO in the original Adams Radio Corporation and had my first opportunity as a GM at KEZK/St. Louis. The opportunity to work with Steve a second time and build a new group was a dream come true for me. We formed Adams in 2013 and it has been an incredible experience, and I have been surrounded by some of the brightest people in the business. I look forward to seeing the company continue to grow and our most dedicated staff prosper under the new ownership and leadership.”
On the executive side, Sharon Bordwell has been retained as the new company’s CFO, and Ron Stone will continue to manage the group until closing. Stone says he expects to be busy for a few months post-close wrapping up old company business and plans to take some time to assess new opportunities that will enable him to continue to make contributions to the radio industry, including continuing as President & Executive Director of the Independent Broadcasters Association (IBA).
The acquisition is expected to be completed by December 31. Adams Radio currently owns and operates 18 stations in four markets — Ft. Wayne and Northwest Indiana, Tallahassee, FL and Las Cruces, NM. According to sources close to the new shareholders, plans are to continue to build upon the past ten years of growth and add new markets as opportunities present themselves. KALIL & CO Inc. was the exclusive broker on this transaction representing Adams Radio Group.
