Minneapolis, MN – October 13, 2017: Adams Radio Group has closed on the acquisition of the Red Hills Broadcasting radio cluster in Tallahassee, Florida. Bill Fanning of MVP Capital, LLC was the broker in the transaction. The acquisition includes: WHTF – FM, Havana, Florida; WWOF – FM, Tallahassee, Florida; WQTL – FM, Tallahassee, Florida and WANK – FM, Lafayette, Florida.
Ron Stone, President and CEO of Adams said “The entire Adams Radio family welcomes these amazing broadcasters in Tallahassee to Adams Radio Group! Hank Kestenbaum and his team have over 20 years invested in Tallahassee radio and we look forward to being their partners for the next 20 years!”
This is the fifth market for Adams Radio Group. Adams owns and operates clusters in Las Cruces, NM, Fort Wayne, IN, suburban Chicago (Northwest Indiana) and Salisbury-Ocean City, MD.
Hank Kestenbaum, added: “Adams Radio of Tallahassee will be represented by a dedicated and talented group of broadcasters continuing to serve our community with entertaining live and local radio…in perfect harmony with the mission of Adams Radio Group. I know I speak for the entire team in saying we are looking forward to a new era of success, service and prosperity under Adam’s ownership.”
About Adams Radio Group:
Adams Radio Group is headed by Ron Stone. Adams is a medium to small market company focused on local radio operations and creating great marketing opportunities in the local communities. The ownership group of ARG is comprised of individual investors led by Stephen Adams, who is Chairman and majority owner of The Adams Companies, a diversified group of companies encompassing wineries, vineyards, outdoor advertising, publishing, recreational vehicles, event marketing and many other related services.