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

Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value of Financial Assets Measured at Fair Value

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

	June 30, 2016
	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	$	44	$	44	$		$
Trade accounts receivable, net		33,091		33,091
Liabilities:
Accounts payable		3,612		3,612
Accrued expenses including estimated fair value of contingent earn-out consideration		10,687		10,246				441
Accrued interest		47		47
Long term liabilities		35		35
Long-term debt and capital lease obligations less unamortized discount and debt issuance costs		270,817				270,817
Fair value of interest rate swap		2,979				2,979

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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