Salem Media Group, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

ACQUSITIONS AND RECENT TRANSACTIONS (Tables)

ACQUSITIONS AND RECENT TRANSACTIONS (Tables)

9 Months Ended

Sep. 30, 2013

Summary of Business Acquisitions and Asset Purchases

A summary of our business acquisitions and asset purchases for the nine months ended September 30, 2013, none of which were material to our condensed consolidated financial position as of the respective date of acquisition, is as follows:


Acquisition Date	Description	Total Cost
		(Dollars in thousands)
September 11, 2013	GodUpdates (asset purchase)	$	250
August 10, 2013	Christnotes.org (business acquisition)		500
February 15, 2013	WTOH-FM, Columbus, Ohio (business acquisition)		4,000
February 5, 2013	WGTK-FM, Greenville, South Carolina (business acquisition)		5,427
Various	Purchase of various intangible Internet assets (asset purchases)		207

		$	10,384

Total Acquisition Consideration Allocated

The total acquisition consideration was allocated to the net assets acquired as follows:


	Broadcast Assets Acquired		Internet Assets Acquired		Net Assets Acquired
	(Dollars in thousands)
Assets
Property and equipment	$	1,252	$	106	$	1,358
Broadcast licenses		7,429		—		7,429
Goodwill		37		21		58
Customer lists and contracts		—		341		341
Domain and brand names		—		409		409
Software		—		80		80
Favorable and assigned lease		709		—		709

	$	9,427	$	957	$	10,384

Loss from Discontinued Operations

The following table sets forth the components of the loss from discontinued operations:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2013			2012			2013
	(Dollars in thousands)
Net revenues	$	11		$	—		$	22		$	11
Operating expenses		(76	)		(19	)		(178	)		(54	)

Operating loss	$	(65	)	$	(19	)	$	(156	)	$	(43	)
Benefit from income taxes		(26	)		(8	)		(62	)		(17	)

Loss from discontinued operations, net of tax	$	(39	)	$	(11	)	$	(94	)	$	(26	)

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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