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

Quarterly report pursuant to Section 13 or 15(d)

Recent Transactions (Tables)

Recent Transactions (Tables)

9 Months Ended

Sep. 30, 2021

A summary of our business acquisitions and asset purchases during the nine-month period ending September 30, 2021, none of which were individually or in the aggregate material to our consolidated financial position as of the respective date of acquisition, is as follows:

Acquisition Date	Description	Total Consideration
		(Dollars in thousands)
July 2, 2021	SeniorResource.com (asset acquisition)	$	80
July 1, 2021	ShiftWorship.com (business acquisition)		2,600
June 1, 2021	KDIA-AM and KDYA-AM San Francisco, California (business acquisition)		600
April 28, 2021	Centerline New Media (business acquisition)		1,300
March 8, 2021	Triple Threat Trader (asset acquisition)		127

		$	4,707

Disclosure Details Of Purchase Consideration Business Combination

The total purchase price consideration for our business acquisitions and asset purchases the nine-month period ending September 30, 2021, is as follows:


Description	Total Consideration
	(Dollars in thousands)
Cash payments made upon closing	$	4,580
Deferred payments		116
Present value of estimated fair value of contingent earn-out consideration		11

Total purchase price consideration	$	4,707

Fair value of the net assets acquired

Differences between the preliminary and final valuation could be substantially different from the initial estimate.

		Net Broadcast Assets Acquired		Net Digital Assets Acquired			Total Net Assets

		(Dollars in thousands)
Assets
	Property and equipment	$	361	$	3,221		$	3,582
	Broadcast licenses		235		—			235
	Goodwill		4		225			229
	Customer lists and contracts		—		789			789
	Domain and brand names		—		66			66

		$	600	$	4,301		$	4,901

Liabilities
	Contract liabilities, short-term		—		(194	)		(194	)

		$	600	$	4,107		$	4,707