iHeartMedia is ramping up its presence at the Jersey Shore. It will buy four FM stations from Equity Communications in the Atlantic City area.
The stations are hot AC station WAYV 95.1 FM in Atlantic City; classic rock WZXL 100.7 FM in Wildwood; CHR station WZBZ 99.3 FM in Pleasantville; and urban AC WTTH 96.1 FM in Margate City. The deal is pending FCC approval. Hartley Adkins, president of market groups for iHeartMedia, said in the announcement, “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.”
Equity Communications is a joint partnership of Steve Gormley and Gary Fisher, set up in 1996 to acquire and hold these Atlantic City stations. Terms were not released. Equity is also selling three other smaller stations, some towers and some land to other local broadcasters.
“After 26 years we felt it was time to pass the baton,” Fisher told Radio World. “The stations are still doing very well. No better place for these stations to end up than under the stewardship of the world’s largest radio/audio company. iHeart has indicated there will be no programming or staff changes and that they are excited to maintain the entire live and local staff. It’s their hope that this purchase underscores their commitment to local radio.”
Fisher called the properties “world-class stations with world-class staff.”
Kalil & Co. Inc. was the broker.
[Read a 2020 commentary by Gary Fisher about how his radio stations coped with the pandemic.]
