Minneapolis, MN – July 10, 2017: Red Hills Broadcasting has agreed to sell its radio cluster in Tallahassee, Florida to Adams Radio of Tallahassee, LLC. 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 “We are thrilled for Adams Radio to be the next steward of these amazing stations that Hank Kestenbaum has spent over 20 years building and even more excited about the future of the stations under Hank’s continued management alongside Adams Radio. This cluster is another rare opportunity to join forces with a company that has been under the same ownership and management for two decades. These stations are a great compliment to our existing markets and will no doubt bring many great ideas into the Adams Radio Family.”
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, President of Red Hills Broadcasting, added: “I want to congratulate Ron Stone and his team at Adams Radio on buying four great Tallahassee radio stations. Every day I’m privileged to work with a dedicated and talented group of people at serving our community with entertaining live and local radio. I look forward to leading these stations and this team into 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, recreational vehicles, event marketing and other related services.