Exhibit 25.1

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

 

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939 OF A

CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

¨ CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b)(2)

 

 

THE BANK OF NEW YORK MELLON

TRUST COMPANY, N.A.

(Exact name of trustee as specified in its charter)

 

 

 

  95-3571558

(State of incorporation

if not a U.S. national bank)

 

(I.R.S. employer

identification no.)

700 South Flower Street Suite 500

Los Angeles, California

  90017
(Address of principal executive offices)   (Zip code)

 

 

SALEM COMMUNICATIONS CORPORATION

(Exact name of obligor as specified in its charter)

 

 

 

Delaware   77-0121400
(State or other jurisdiction of
incorporation or organization)
  (I.R.S. employer
identification no.)


Co-Registrants

 

Name of Subsidiary Guarantor

  

Jurisdiction of
Incorporation or
Organization

  

I.R.S. Employer
Identification No.

Bison Media, Inc.    Colorado    77-0434654
Caron Broadcasting, Inc.    Ohio    77-0439370
CCM Communications, Inc.    Tennessee    95-3394730
Common Ground Broadcasting, Inc.    Oregon    93-1079989
Inspiration Media, Inc.    Washington    77-0132974
Inspiration Media of Texas, LLC    Texas    75-2615876
New Inspiration Broadcasting Company, Inc.    California    95-3356921
NI Acquisition Corp.    California    77-0472233
OnePlace, LLC    Delaware    52-2141739
Pennsylvania Media Associates, Inc.    Pennsylvania    94-3134636
Reach Satellite Network, Inc.    Tennessee    62-1499223
Salem Consumer Products, Inc.    Delaware    26-0592055
Salem Communications Holding Corporation    Delaware    52-2253737
Salem Investment Corporation    Delaware    80-0316086
Salem Media Group, LLC    Delaware    26-1524392
Salem Media of Colorado, Inc.    Colorado    84-1239646
Salem Media of Hawaii, Inc.    Delaware    91-1973005
Salem Media of Illinois, LLC    Delaware    52-2295222
Salem Media of Kentucky, Inc.    Kentucky    61-1346985
Salem Media of New York, LLC    Delaware    52-2293254
Salem Media of Ohio, Inc.    Ohio    95-3690954
Salem Media of Oregon, Inc.    Oregon    77-0114986


Salem Media of Texas, Inc.    Texas    77-0379125
Salem Media of Virginia, Inc.    Virginia    54-1927897
Salem Media Representatives, Inc.    Texas    77-0281576
Salem Radio Network Incorporated    Delaware    77-0305542
Salem Radio Operations, LLC    Delaware    77-0581097
Salem Radio Properties, Inc.    Delaware    52-2194731
Salem Satellite Media, LLC    Delaware    52-2324849
SCA License Corporation    Delaware    52-2255733
SCA-Palo Alto, LLC    Delaware    36-4502016
SCHC Lubbock Application, Inc.    Texas    94-3255942
South Texas Broadcasting, Inc.    Texas    77-0388924
SRN News Network, Inc.    Texas    77-0426090

 

4880 Santa Rosa Road

Camarillo, California

  93012
(Address of principal executive offices)   (Zip code)

 

 

9.625% Senior Secured Second Lien Notes due 2016

and Guarantees of 9.625% Senior Secured Second Lien Notes due 2016

(Title of the indenture securities)

 

 

 


1. General information. Furnish the following information as to the trustee:

 

  (a) Name and address of each examining or supervising authority to which it is subject.

 

Name

  

Address

Comptroller of the Currency

United States Department of the Treasury

   Washington, D.C. 20219
Federal Reserve Bank    San Francisco, California 94105
Federal Deposit Insurance Corporation    Washington, D.C. 20429

 

  (b) Whether it is authorized to exercise corporate trust powers.

Yes.

 

2. Affiliations with Obligor.

If the obligor is an affiliate of the trustee, describe each such affiliation.

None.

 

16. List of Exhibits.

Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a-29 under the Trust Indenture Act of 1939 (the “Act”) and 17 C.F.R. 229.10(d).

 

  1. A copy of the articles of association of The Bank of New York Mellon Trust Company, N.A., formerly known as The Bank of New York Trust Company, N.A. (Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121948 and Exhibit 1 to Form T-1 filed with Registration Statement No. 333-152875).

 

  2. A copy of certificate of authority of the trustee to commence business. (Exhibit 2 to Form T-1 filed with Registration Statement No. 333-121948).

 

  3. A copy of the authorization of the trustee to exercise corporate trust powers (Exhibit 3 to Form T-1 filed with Registration Statement No. 333-152875).


  4. A copy of the existing by-laws of the trustee (Exhibit 4 to Form T-1 filed with Registration Statement No. 333-162713).

 

  6. The consent of the trustee required by Section 321(b) of the Act (Exhibit 6 to Form T-1 filed with Registration Statement No. 333-152875).

 

  7. A copy of the latest report of condition of the Trustee published pursuant to law or to the requirements of its supervising or examining authority.


SIGNATURE

Pursuant to the requirements of the Act, the trustee, The Bank of New York Mellon Trust Company, N.A., a banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Los Angeles, and State of California, on the 22nd day of December, 2009.

 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
By:   /S/ TERESA PETTA
Name:   TERESA PETTA
Title:   VICE PRESIDENT


EXHIBIT 7

Consolidated Report of Condition of

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

of 700 South Flower Street, Suite 200, Los Angeles, CA 90017

At the close of business September 30, 2009, published in accordance with Federal regulatory authority instructions.

 

     Dollar Amounts
in Thousands

ASSETS

  

Cash and balances due from depository institutions:

  

Noninterest-bearing balances and currency and coin

     1,585

Interest-bearing balances

     426

Securities:

  

Held-to-maturity securities

     16

Available-for-sale securities

     553,806

Federal funds sold and securities purchased under agreements to resell:

  

Federal funds sold

     83,000

Securities purchased under agreements to resell

     0

Loans and lease financing receivables:

  

Loans and leases held for sale

     0

Loans and leases, net of unearned income

     0

LESS: Allowance for loan and lease losses

     0

Loans and leases, net of unearned income and allowance

     0

Trading assets

     0

Premises and fixed assets (including capitalized leases)

     10,983

Other real estate owned

     0

Investments in unconsolidated subsidiaries and associated companies

     1

Direct and indirect investments in real estate ventures

     0

Intangible assets:

  

Goodwill

     852,858

Other intangible assets

     251,145

Other assets

     156,398
      

Total assets

   $ 1,910,218
      


 

LIABILITIES

  

Deposits:

  

In domestic offices

   1,712

Noninterest-bearing

   1,712

Interest-bearing

   0

Not applicable

  

Federal funds purchased and securities sold under agreements to repurchase:

  

Federal funds purchased

   0

Securities sold under agreements to repurchase

   0

Trading liabilities

   0

Other borrowed money:

  

(includes mortgage indebtedness and obligations under capitalized leases)

   268,691

Not applicable

  

Not applicable

  

Subordinated notes and debentures

   0

Other liabilities

   198,124

Total liabilities

   468,527

Not Applicable

  

EQUITY CAPITAL

  

Perpetual preferred stock and related surplus

   0

Common stock

   1,000

Surplus (exclude all surplus related to preferred stock)

   1,121,520

Not Applicable

  

Retained earnings

   316,907

Accumulated other comprehensive income

   2,264

Other equity capital components

   0

Not Available

  

Total bank equity capital

   1,441,691

Noncontrolling (minority) interests in consolidated subsidiaries

   0

Total equity capital

   1,441,691
    

Total liabilities and equity capital

   1,910,218
    

I, Karen Bayz, Managing Director of the above-named bank do hereby declare that the Reports of Condition and Income (including the supporting schedules) for this report date have been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and are true to the best of my knowledge and belief.

 

Karen Bayz        )        Managing Director

We, the undersigned directors (trustees), attest to the correctness of the Report of Condition (including the supporting schedules) for this report date and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

 

Troy Kilpatrick, MD    )   
Frank P. Sulzberger, MD    )        Directors (Trustees)
William D. Lindelof, MD        )