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, 2017

Summary of Business Acquisitions and Asset Purchased

A summary of our business acquisitions and asset purchases during the six month period ended June 30, 2017, 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 28, 2017	FM Translator construction permit, Festus, Missouri (asset acquisition)	$	40
June 8, 2017	Portuguese Bible Mobile Applications (business acquisition)		82
March 15, 2017	Prayers for Special Help (business acquisition)		245
March 14, 2017	FM Translator construction permit, Quartz Site, Arizona (asset purchase)		20
March 1, 2017	FM Translator construction permit, Roseburg, Oregon (asset purchase)		45
January 16, 2017	FM Translator, Astoria, Oregon (asset purchase)		33
January 1, 2017	FM Translator construction permit, Mohave Valley, Arizona (asset purchase)		20
		$	485

Summary of Total Acquisition Consideration

The following table summarizes the total acquisition consideration for the six month period ended June 30, 2017:

Description	Total Consideration
	(Dollars in thousands)
Cash payments made upon closing	$	440
Escrow deposits paid in prior years		28
Present value of estimated fair value of contingent earn-out consideration		17
Total purchase price consideration	$	485

Total Acquisition Consideration Allocated

The fair value of the net assets acquired was allocated as follows:

	Net Broadcast		Net Digital Media		Net Total
	Assets Acquired		Assets Acquired		Assets Acquired
	(Dollars in thousands)
Assets
Property and equipment	$		$	230	$	230
Broadcast licenses		158				158
Goodwill				15		15
Domain and brand names				56		56
Customer lists and contracts				26		26
	$	158	$	327	$	485