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

Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS AND RECENT TRANSACTIONS (Tables)

ACQUISITIONS AND RECENT TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2016

Summary of Business Acquisitions and Asset Purchased

A summary of our business acquisitions and asset purchases during the six month period ended June 30, 2016, none of which were individually or in the aggregate 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)
June 20, 2016	FM Translator, Columbus, Ohio (asset purchase)	$	345
June 10, 2016	FM Translator, Amherst, New York (asset purchase)		60
June 8, 2016	FM Translator construction permit, Charlotte, Michigan (asset purchase)		50
June 3, 2016	FM Translator construction permit, Atwood, Kentucky (asset purchase)		88
May 13, 2016	FM Translator construction permit, Kerrville, Texas (asset purchase)		50
May 2, 2016	FM Translator, Lincoln, Maine (asset purchase)		100
April 29, 2016	FM Translator construction permit, Emporia, Kansas (asset purchase)		25
April 1, 2016	Retirement Watch (business acquisition)		100
March 8, 2016	King James Bible mobile applications (business acquisition)		4,000
Various	Purchase of domain names and assets for use in publishing business (asset purchases)		6
		$	4,824

Summary of Total Acquisition Consideration

The following table summarizes the total acquisition consideration for the six month period ending June 30, 2016:

Description	Total Consideration
	(Dollars in thousands)
Cash payments made upon closing	$	3,524
Deferred payments		1,300
Total purchase price consideration	$	4,824

Total Acquisition Consideration Allocated

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

	Net Broadcast		Net Digital Media		Net Publishing		Net Total
	Assets Acquired		Assets Acquired		Assets Acquired		Assets Acquired

	(Dollars in thousands)
Assets
Property and equipment	$	13	$	371	$		$	384
Projects in process		213						213
Broadcast licenses		492						492
Goodwill				230				230
Domain and brand names				908		6		914
Customer lists and contracts				2,867				2,867
Non-compete agreements				289				289
Liabilities
Deferred revenue				(565)				(565)
	$	718	$	4,100	$	6	$	4,824