iHeartMedia Closes on Four in Atlantic City from Equity

RADIO ONLINE | Wednesday, December 6, 2023

iHeartMedia

iHeartMedia has closed on its previously announced acquistion of four stations in Atlantic City, NJ from Equity Communications. Included in the deal were Hot AC WAYV-FM (95.1) in Atlantic City, Classic Rock WZXL-FM (100.7) in Wildwood, CHR WZBZ (99.3) in Pleasantville and Urban AC WTTH-FM (96.1) in Margate City. Equity is a New Jersey-based company headed by Gary Fisher. iHeartMedia is a Texas-based company headed by Bob Pittman.

"iHeartMedia is the multiplatform leader in audio built on the power of radio, and this acquisition underscores our commitment to broadcast radio's continued growth and success as the no. 1 reach medium in the U.S. These stations have a long history of success in South Jersey, and adding them to our roster will allow us to extend the iHeart brand to this market," said iHeartMedia President of Market Groups Hartley Adkins at the time of the sale. "We are excited to have the teams at WAYV, WZXL, WTTH and WZBZ join the iHeart family and look forward to collaborating together and continuing their growth trajectory."

"We're delighted to convey the Equity stations to iHeart. These are world-class stations with world-class staff, and it's only fitting they should join the country's biggest audio company. I'm confident they will continue to flourish & prosper under iHeart's stewardship," added Equity Communications President and Owner Gary Fisher.

Kalil & Co. was the exclusive broker for the transaction.