As of Friday afternoon, the sale of Adams Radio Group to Adams Radio Acquisitions Company has been finalized. The newly formed company will operate under the same Adams Radio Group name with the same 24 stations in five markets. Charlie Fritz, previously of Fritz Broadcasting in Detroit, Michigan, has been appointed as the new CEO.
Adams Radio’s serving CFO, Sharon Bordwell, will continue in her role for the new company. The sale was brokered exclusively by Kalil & Company. While stepping aside from the CEO position, Ron Stone has stated his whole focus will turn his duties as President and Executive Director of the Independent Broadcasters Association, saying, “Watch for some exciting news from the IBA soon as we move into our 4th year.”
Best Wishes to Ron Stone!
Good industry source