Statement as issued Tuesday by Adams Radio Group:
Minneapolis, MN – February 27, 2014: Oasis Radio Group has agreed to sell its radio cluster in Fort Wayne, IN to Adams Radio Group, LLC. There was no broker in the transaction.
Ron Stone, President and CEO of Adams said “This is a great opportunity for Adams Radio and I could not be more excited. Fort Wayne is a terrific market and we look forward to competing with some great radio operators. Adams and Summit City Radio also announced today the acquisition of the Summit City Radio stations in Fort Wayne in a transaction brokered by Media Venture Partners. Stations included are WGL AM/FM, WXKE FM and WNHT FM.
Fort Wayne is second market for Adams Radio since reentering the radio business. Adams closed on Las Cruces, NM in December
Russ Oasis added, “Oasis Radio has been broadcasting in Fort Wayne since 1992. During that time, we’ve enjoyed the community immensely and always had a family feel to our operation. I’m pleased that Adams operates in very much the same way. The tradition of high quality programming and a fun, family atmosphere for our employees will continue.”
About Oasis Radio Group
Oasis Radio Group has been broadcasting in Fort Wayne since 1992 with its original station WFWI, “92.3 The Fort.” After selling that station to Federated Media, Oasis acquired WJFX in 1998 and then WBTU and WHPP in 2007. Russ Oasis, owner of Oasis Radio, has also owned and operated stations in Indianapolis and Miami, FL.
About Adams Radio Group
Adams Radio Group 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.
About Media Venture Partners
Media Venture Partners (MVP), a division of Financial Telesis, Inc. provides strategic counsel and financial services, mergers/acquisitions, private equity/debt raises, financial, valuations and appraisals. Founded in 1987, MVP has offices in San Francisco, Boston, Boulder and Kansas City. Additional information is
available at www.mediaventurepartners.com or 415-391-4877.