Friday, September 19, 2014

DE Radio: Great Scott Selling 10 Stations

Great Scott Broadcasting has agreed to sell its radio cluster in the Salisbury area to two different radio operators.

Six stations are going to be acquired by Adams Radio of Delmarva Peninsula, according to delmarvanow.com.  And Great Scott Broadcasting has also entered into a purchase agreement with The Voice Radio Network for four other stations; WKDB-FM licensed to Laurel, WZEB-FM licensed to Ocean View, WJKI-FM, licensed to Bethany Beach and WXSH-FM licensed to Pocomoke.

 Kalil & Co. was the broker in the transactions.

WKHI 107.7 FM (23.5Kw) 60dBu Coverage
The acquisition includes: Classic Rock WGBG 98.5 FM and WJWK 1280 AM, both licensed to Seaford, Spanish WJWL 900 AM and Rock WZBH 93.5 FM, both licensed to Georgetown, Country WKHI 107.7 FM licensed to Fruitland, and HipHop WOCQ 103.9 FM licensed to Berlin.

The deal also includes FM Translators W242AV and W262BF.

Ron Stone
Ron Stone, president and CEO of Adams said "We are very excited to join the broadcast community in Salisbury – Ocean City. This cluster is another rare opportunity to acquire a company that has been in the same family for almost 50 years. We are honored to be chosen by the Scott family to be the next stewards of these great stations. These stations are a great compliment to the other markets we have acquired."

This is the fourth market for Adams Radio Group since re-entering the radio business last July. Adams owns and operates clusters in Las Cruces, New Mexico, Fort Wayne, Indiana, and suburban Chicago area in northwest Indiana referred to as The Region.

Jeff Scott of Great Scott Broadcasting added, "Our family has proudly served the Delmarva Peninsula for 50 years. We quietly listed our stations in hopes that we would find the perfect buyer that shares our values in serving the public. We believe Adams Radio is that company. We have no doubts that our families tradition of high quality programming will continue and the public will be well served by Adams."

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, outdoor advertising, recreational vehicles and related services.

Great Scott Broadcasting was founded by Herbert Scott in Pottstown, Pennsylvania, and expanded to the Delmarva Peninsula, Pennsylvania, New York, New Jersey and Ohio, where it became one of the largest family-owned independent radio groups in the United States.

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