Atlantic Broadcasting, headed by Brett DeNafo, has completed its acquisition of a cluster of radio stations on the New Jersey shore. The cluster containing two AMs and three FMs came from Access.1 Communications Corporation. According to brokerage Kalil & Co., the deal closed at $9.5M. The stations in the cluster include WMGM-FM Atlantic City, WTKU-FM Ocean City, WJSE-FM Petersburg, and WTAA-AM/WOND-AM Pleasantville.
RBR/TVBR observation: The buying group is notable for its local roots. DeNafo is a local businessman, and he’s put together a staff loaded with local radio veterans.