Salem Media Group, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

FAIR VALUE ACCOUNTING (Tables)

FAIR VALUE ACCOUNTING (Tables)

12 Months Ended

Dec. 31, 2014

FAIR VALUE ACCOUNTING [Abstract]

Fair Value of Financial Assets Measured at Fair Value

The following table summarizes the fair value of our financial assets and liabilities that are measured at fair value:

		December 31, 2014
		Total Fair Value and Carrying Value on				Fair Value Measurement Category
		Balance Sheet				Level 1				Level 2				Level 3
		(Dollars in thousands)
Assets:
Cash and cash equivalents		$	33			$	33			$				$
Trade accounts receivable, net			34,781				34,781
Fair value of interest rate swap			475								475
Liabilities:
Accounts payable			2,964				2,964
Accrued expenses including estimated fair value of contingent earn-out consideration			12,704				11,129								1,575
Accrued interest			48				48
Long term liabilities including estimated fair value of contingent earn-out consideration			4,123				2,413								1,710
Long-term debt			277,505				277,505