Notes Payable and Long-Term Debt - Additional Information (Detail) (USD $)
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3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||
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Sep. 30, 2011
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Sep. 30, 2012
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Sep. 30, 2011
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Dec. 31, 2011
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Nov. 15, 2011
Revolver under senior credit facility
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Sep. 30, 2012
Revolver under senior credit facility
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Dec. 31, 2011
Revolver under senior credit facility
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Nov. 01, 2010
Revolver under senior credit facility
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Dec. 01, 2009
Revolver under senior credit facility
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Sep. 30, 2012
Revolver under senior credit facility
Standby letters of credit
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Sep. 30, 2012
Revolver under senior credit facility
Swingline loans
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Sep. 30, 2012
Revolver under senior credit facility
Covenant requirement
Maximum
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Sep. 30, 2012
Revolver under senior credit facility
Covenant requirement
Minimum
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Nov. 15, 2011
Revolver under senior credit facility
Before second amendment
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Jun. 01, 2012
9 5/8% senior secured second lien notes
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Dec. 12, 2011
9 5/8% senior secured second lien notes
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Sep. 06, 2011
9 5/8% senior secured second lien notes
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Jun. 01, 2011
9 5/8% senior secured second lien notes
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Dec. 01, 2009
9 5/8% senior secured second lien notes
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Sep. 30, 2012
9 5/8% senior secured second lien notes
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Sep. 30, 2011
9 5/8% senior secured second lien notes
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Sep. 30, 2012
9 5/8% senior secured second lien notes
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Sep. 30, 2011
9 5/8% senior secured second lien notes
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Dec. 31, 2011
9 5/8% senior secured second lien notes
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Dec. 01, 2010
9 5/8% senior secured second lien notes
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Jun. 01, 2010
9 5/8% senior secured second lien notes
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May 21, 2012
Subordinated debt
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Sep. 30, 2012
Subordinated debt
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Sep. 30, 2012
Subordinated debt
Minimum
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Sep. 30, 2012
Subordinated debt
Through December 31, 2012
Maximum
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Sep. 30, 2012
Subordinated debt
January 1, 2013 through December 31, 2013
Maximum
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Sep. 30, 2012
Subordinated debt
January 1, 2014 through maturity
Maximum
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Sep. 30, 2011
Subordinated debt due to related parties
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Sep. 30, 2012
Subordinated debt due to related parties
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May 21, 2012
Subordinated debt due to related parties
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Dec. 31, 2011
Subordinated debt due to related parties
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Nov. 17, 2011
Subordinated debt due to related parties
Stuart W.Epperson, Board of Directors Chairman
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Nov. 17, 2011
Subordinated debt due to related parties
EdwardG. Atsinger III, Chief Executive Officer and Director
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May 21, 2012
Subordinated debt due to related parties
Roland S. Hinz, a Salem board member
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Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||||||||||
Credit facility, borrowing capacity | $ 40,000,000 | $ 30,000,000 | $ 5,000,000 | $ 5,000,000 | $ 12,000,000 | $ 3,000,000 | $ 6,000,000 | $ 6,000,000 | |||||||||||||||||||||||||||||||
Leverage ratio | 4.97 | 5.0 | 6.25 | 4.97 | 6.25 | 6.00 | 5.50 | ||||||||||||||||||||||||||||||||
Revolving credit facility, second amendment description | On November 15, 2011, we completed the Second Amendment of our Revolver to among other things, (1) extend the maturity date from December 1, 2012 to December 1, 2014, (2) change the interest rate applicable to LIBOR or the Wells Fargo base rate plus a spread to be determined based on our leverage ratio, (3) allow us to borrow and repay unsecured indebtedness provided certain conditions are met and (4) include step-downs related to our leverage ratio covenant | ||||||||||||||||||||||||||||||||||||||
Debt, maturity date | Dec. 01, 2014 | Dec. 01, 2012 | Jun. 15, 2014 | ||||||||||||||||||||||||||||||||||||
Debt, amendment fees | 500,000 | ||||||||||||||||||||||||||||||||||||||
Debt, interest rate over LIBOR | 3.00% | ||||||||||||||||||||||||||||||||||||||
Debt, interest rate above base rate | 1.25% | ||||||||||||||||||||||||||||||||||||||
Debt, increase in interest rate if default occurs | 2.00% | ||||||||||||||||||||||||||||||||||||||
Debt, interest rate | 3.29% | 9.625% | 9.625% | ||||||||||||||||||||||||||||||||||||
Revolving credit facility, covenant description | With respect to financial covenants, the credit agreement includes a maximum leverage ratio of 6.25 to 1.0 and a minimum interest coverage ratio of 1.5 to 1. The credit agreement also includes other negative covenants that are customary for credit facilities of this type, including covenants that, subject to exceptions described in the Credit Agreement, restrict the ability of Salem and the guarantors (i) to incur additional indebtedness; (ii) to make investments; (iii) to make distributions, loans or transfers of assets; (iv) to enter into, create, incur, assume or suffer to exist any liens; (v) to sell assets; (vi) to enter into transactions with affiliates; (vii) to merge or consolidate with, or dispose of all or substantially all assets to, a third party; (viii) to prepay indebtedness; and (ix) to pay dividends. As of September 30, 2012, our leverage ratio was 5.10 to 1 and our interest coverage ratio was 2.09 to 1. We were in compliance with our debt covenants under the Revolver at September 30, 2012, and we remain in compliance. | ||||||||||||||||||||||||||||||||||||||
Interest coverage ratio | 2.18 | 1.5 | 2.18 | 1.5 | |||||||||||||||||||||||||||||||||||
Debt, issuance of principal amount | 300,000,000 | ||||||||||||||||||||||||||||||||||||||
Debt, issued at discount | 298,100,000 | ||||||||||||||||||||||||||||||||||||||
Debt, effective yield | 9.75% | ||||||||||||||||||||||||||||||||||||||
Debt, interest payment terms | Interest is due and payable on June 15 and December 15 of each year, commencing June 15, 2010 until maturity. | ||||||||||||||||||||||||||||||||||||||
Debt maturity date | 2016-12 | ||||||||||||||||||||||||||||||||||||||
Debt, annual interest payment | 28,900,000 | ||||||||||||||||||||||||||||||||||||||
Debt, accrued interest | 6,200,000 | 6,200,000 | 1,000,000 | 26,900 | |||||||||||||||||||||||||||||||||||
Interest expense | 48,000 | 100,000 | 48,000 | 100,000 | |||||||||||||||||||||||||||||||||||
Principal repurchased or redeemed | 17,500,000 | 12,500,000 | 5,000,000 | 17,500,000 | 12,500,000 | 17,500,000 | |||||||||||||||||||||||||||||||||
Debt, purchase price | 18,000,000 | 12,900,000 | 5,100,000 | 18,000,000 | |||||||||||||||||||||||||||||||||||
Percent of debt purchase price | 103.00% | 103.00% | 102.875% | 103.00% | |||||||||||||||||||||||||||||||||||
Pre-tax loss on early retirement of debt | (305,000) | (893,000) | (1,395,000) | (900,000) | (800,000) | (300,000) | (100,000) | ||||||||||||||||||||||||||||||||
Unamortized Discount | 80,000 | 62,000 | 26,000 | 93,000 | 70,000 | 105,000 | |||||||||||||||||||||||||||||||||
Bond issue cost | 287,000 | 337,000 | 135,000 | 472,000 | 334,000 | 417,000 | |||||||||||||||||||||||||||||||||
Long-term debt | 270,570,000 | 274,803,000 | 29,369,000 | 31,000,000 | 216,561,000 | 216,561,000 | 233,846,000 | 8,750,000 | 15,000,000 | 9,000,000 | |||||||||||||||||||||||||||||
Credit facility, principal amount | 10,000,000 | ||||||||||||||||||||||||||||||||||||||
Credit facility, interest at a floating rate | 4.25% | ||||||||||||||||||||||||||||||||||||||
Credit facility, floating rate, interest above prime rate | 1.25% | 1.00% | |||||||||||||||||||||||||||||||||||||
Debt, interest rate terms | The interest rate for the FCB Loan ("Interest Rate") is variable and shall be equal to the greater of (a) 4.250% or (b) the Wall Street Journal Prime Rate as published in The Wall Street Journal and reported by FCB plus 1%. | Outstanding amounts under each Affiliate Line of Credit will bear interest at a rate equal to the lesser of (1) 5% per annum and (2) the maximum rate permitted for subordinated debt under the Revolver referred to above plus 2% per annum. | Interest rate equal to the lesser of (1) 5% per annum and (2) the maximum rate permitted for subordinated debt under the Revolver plus 2% per annum. | ||||||||||||||||||||||||||||||||||||
Credit facility, term | 23 months | ||||||||||||||||||||||||||||||||||||||
Credit facility, interest charge | 50 | ||||||||||||||||||||||||||||||||||||||
Credit facility, quarterly consecutive principal payments | 1,250,000 | ||||||||||||||||||||||||||||||||||||||
Credit facility, increased interest rate | 5.00% | ||||||||||||||||||||||||||||||||||||||
Credit facility, outstanding amount | 29,400,000 | 15,000,000 | 15,000,000 | 9,000,000 | |||||||||||||||||||||||||||||||||||
Debt, interest rate above LIBOR | 3.00% | ||||||||||||||||||||||||||||||||||||||
Debt, outstanding borrowing | $ 217,500,000 | $ 217,500,000 | |||||||||||||||||||||||||||||||||||||
Debt, interest payment frequency | Semi-annual | ||||||||||||||||||||||||||||||||||||||
Credit facility, commitment fee on unused balance | 0.60% |