Adams Radio Acquisitions Closes Buy of Adams Radio Group
| RADIO ONLINE | Friday, June 9, 2023 | 4:54pm CT |
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 Adams Radio Group |
Adams Radio Group has closed on the sale of the company to Adams Radio Acquisitions Company. The newly formed company will continue to operate under the Adams Radio Group banner. Charlie Fritz is appointed the new President and CEO. He was previously associated with Fritz Broadcasting based in Detroit, where the new company will be based. Sharon Bordwell, current CFO for Adams Radio, will continue to serve the new company in the same capacity.
Ron Stone reunited with Steve Adams in 2013 to form a second Adams Radio Group. Stone had served as VP/CFO for the first Adams Radio Group in the 1990's. That version of Adams Radio operated until 1996 in multiple large markets including Phoenix, Seattle, San Diego, San Antonio, Charlotte, St. Louis, Denver and others. Stone was promoted in 1993 to VP/Market Manager for the St. Louis properties. He then served as President & CEO of the new Adams Radio Group from its inception in 2013, growing the group to 5 markets and 24 stations by 2017.
Stone says that he will continue to serve as President and Executive Director of the Independent Broadcasters Association, an organization he founded in 2020 during the covid pandemic to help independent broadcasters. Stone said, "Watch for some exciting news from the IBA soon as we move into our 4th year."
The sale was brokered exclusively by Kalil & Company.
