Minnesota-based Adams Radio Group has reached an agreement to buy several radio stations in Fort Wayne. The deals with Oasis Radio Group and Summit Radio Group include six stations in the Allen County city.
February 25, 2014
Minneapolis, Minn. — Oasis Radio Group and Summit Radio Group have agreed to sell radio clusters in Fort Wayne, IN to Adams Radio Group, LLC.
Ron Stone, President and CEO of Adams said “This is a great opportunity for Adams Radio and I could not be more excited. Fort Wayne is a terrific market and we look forward to competing with some great radio operators.”
Summit City Radio was brokered by Media Venture Partners. There was no broker in the Oasis transaction. Stations included with Summit include WGL AM/FM, WXKE FM and WNHT FM. The Oasis stations include WBTU FM, WJFX FM and WHPP FM. Adams is trading WHPP with Fort Wayne Catholic Radio for WLYV AM 1450 and is also trading WGL FM to Calvary Radio Network for translator W277AK. Adams will enter the market with 4 FM, 2 AM and 1 translator.
Fort Wayne is second market for Adams Radio since reentering the radio business. Adams closed on 4 stations in Las Cruces, NM on December 1.
Russ Oasis commented on the deal “Oasis Radio has been broadcasting in Fort Wayne since 1992. During that time, we've enjoyed the community immensely and always had a family feel to our operation. I'm pleased that Adams operates in very much the same way. The tradition of high quality programming and a fun, family atmosphere for our employees will continue.”
Source: Adams Radio Group Inc.