Radio One Comm.-Adams Radio Indiana sale closes
Radio One Communications’ sale of Country WLJE-FM, Classic Rock WXRD-FM, AC WZVN-FM and Oldies WAKE-AM (Valparaiso area) to Adams Radio Group of Northern Indiana, has closed. Kalil & Co., Inc. is the exclusive broker.
The Cities of Licenses: WLJE-FM, WAKE-AM, Valparaiso; WXRD-FM, Crown Point; and WZVN-FM, Lowell.
The seller is an Indiana-based company headed by Leigh Ellis. Radio One Comm. has no other broadcast interests.
Adams Radio Group, is a Minnesota-based company headed by Ron Stone. Adams Radio also owns stations in Las Cruces, NM, and Ft. Wayne, IN.
The deal marks the third market for Adams since reentering the radio business in July last year.
“This is a great expansion opportunity for Adams Radio in Indiana,” said Ron Stone, Adams CEO. “The Ellis family has owned and operated these stations for 50 years and we are fortunate to acquire these great properties. The Ellises have built an operation that serves from Chicago to South Bend. As a market, it may have been the best kept secret in the industry and will be a great complement to the stations we are purchasing in Fort Wayne.”
Radio One Communications was founded by Len Ellis in 1964 as a WAKE-AM, which at the time was a county radio station. The company expanded to Indiana 105.5 in 1967, Z-Rock 103.9 and Z107.1 in 2001.
Said Leigh Ellis, owner of Radio One who has worked with the company for 38 years: “Adams Radio Group is going to be a great steward to take us to the next level. Our family has proudly served the area between Chicago and South Bend 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 family’s tradition of high quality programming and marketing will continue and the public will be well by Adams.”