The transaction in which Great Scott Broadscasting sold Salisbury-Ocean City radio stations to Adams Radio has made it to the finish line. Broker: Kalil & Co.
The stations are licensed to market communities in both Maryland and Delaware.
Great Scott sold WJWK-AM/WGBG-FM Seaford DE, WJWL-AM/WZBH-FM Georgetown DE, WKHI-FM Fruitland MD and two FM translators to Adams. The total price of the Adams deal, which includes a $100K non-compete, is $3.25M.
Ron Stone, President and CEO of Adams said “This has been the longest deal in my lifetime! We started this process in September 2013 and are elated to finally reach the goal line! This market offers tremendous upside for Adams and we are very excited to finally be in the market. We look forward to interacting with listeners, clients and other great broadcasters on the Delmarva Peninisula.”
Adams Radio Group also owns and operates clusters in Las Cruces, NM, Fort Wayne, IN and suburban Chicago “The Region”.
Phil LoCascio, Adams Market Manager, added: “When I joined the company in December I had no idea it would start off with a three month vacation! The good news is I have had plenty of time to plan and prepare for the cluster. We have a lot to do and a ton of upside…good thing I had the vacation first!”
