Adams Radio will pay $6,197,000 for Red Hills Broadcasting’s four Tallahassee stations. Hank Kestenbaum, President of Red Hills, will join Adams as General Manager of the cluster, a role he held prior to purchasing the stations from Opus Broadcasting in 2014.
Original Report 7/10: Adams Radio has announced the acquisition of Red Hills Broadcasting’s four stations in Tallahassee FL.
The stations involved in the deal are Variety Hits “99.9 Hank-FM” WANK Lafayette, Country “103.1 The Wolf” WWOF Tallahassee, CHR “Hot 104.9” WHTF Havana, and AAA/Classic Rock “106.1 The Sound” WQTL Tallahassee. No terms have been announced.
Red Hills Broadcasting has agreed to sell its radio cluster in Tallahassee, Florida to Adams Radio of Tallahassee, LLC. Bill Fanning of MVP Capital, LLC was the broker in the transaction. The acquisition includes: WHTF – FM, Havana, Florida; WWOF – FM, Tallahassee, Florida; WQTL – FM, Tallahassee, Florida and WANK – FM, Lafayette, Florida.
Ron Stone, President and CEO of Adams said “We are thrilled for Adams Radio to be the next steward of these amazing stations that Hank Kestenbaum has spent over 20 years building and even more excited about the future of the stations under Hank’s continued management alongside Adams Radio. This cluster is another rare opportunity to join forces with a company that has been under the same ownership and management for two decades. These stations are a great compliment to our existing markets and will no doubt bring many great ideas into the Adams Radio Family.”
This is the fifth market for Adams Radio Group. Adams owns and operates clusters in Las Cruces, NM, Fort Wayne, IN, suburban Chicago (Northwest Indiana) and Salisbury-Ocean City, MD.
Hank Kestenbaum, President of Red Hills Broadcasting, added: “I want to congratulate Ron Stone and his team at Adams Radio on buying four great Tallahassee radio stations. Every day I’m privileged to work with a dedicated and talented group of people at serving our community with entertaining live and local radio. I look forward to leading these stations and this team into a new era of success, service and prosperity under Adam’s ownership.”