Kevin Adell   Photo credit: Adell Media

WADL-TV/WFDF-AM owner Kevin Adell has announced his plans to retire with intention to sell his current business holdings, including both broadcast stations.  According to The Desk, Adell told the publication that he is "moving forward with the sale of his independent television outlet WADL-TV (Channel 38) and will also part ways with his two other media assets: Radio station WFDF (910 AM) and religious broadcast network The Word."

Greg Guy, the founder of South Carolina-based Tideline Partners, has reportedly been hired to help broker the sale of WADL, WFDF and The Word. Adell intends to sell all three separately, and has already received offers of interest from other individuals and companies; he declined to identify the interested parties, citing non-disclosure agreements.

Adell is also selling the Adell Center, a 22-acre parcel of land in the Detroit suburb of Novi.

The Desk writes that the decision to retire comes several weeks after an offer by Mission Broadcasting to purchase WADL for $75 million fell through. The offer was subject to regulatory approval by the Federal Communications Commission (FCC), which received objections from groups representing cable and satellite companies, who said the transaction would substantially benefit Nexstar Media Group, the largest independent owner of broadcast TV stations in the country. The deal was approved by the FCC but with conditions that resulted in Mission terminating the sale.

Adell recently inked new syndication deals for WADL.  WFDF-AM, known as “910 AM Superstation” carries news and talk programming from Premiere Networks and ABC News Radio.