Salem Communications Announces Closing Sale of Los Angeles Station
CAMARILLO, CA -- (MARKET WIRE) -- 02/28/11 -- Salem Communications Corporation (NASDAQ: SALM), announced that the sale of radio station KXMX-AM (1190 AM) for $12.0 million in Los Angeles closed on February 25, 2011. Salem still owns and operates KKLA-FM (99.5 FM), KFSH-FM (95.9 FM), KRLA-AM (870 AM) and KTIE-AM (590 AM) in its Los Angeles cluster. KXMX-AM was operated in foreign language programming and was not in one of Salem's core formats.
Salem Communications Corporation is the largest commercial U.S. radio broadcasting company that provides programming targeted at audiences interested in Christian and family-themed radio content, as measured by the number of stations and audience coverage. Upon completion of all announced transactions, the company will own and/or operate a national portfolio of 95 radio stations in 37 markets, including 59 stations in 22 of the top 25 markets. Salem also programs the Family Talk™ Christian-themed talk format on XM Radio, channel 170, and on SIRIUS, channel 161.
Salem also owns Salem Radio Network, a national radio network that syndicates talk, news and music programming to approximately 2,000 affiliated radio stations and Salem Media Representatives, a national media advertising sales firm with offices across the country.
In addition to its radio broadcast business, Salem owns a non-broadcast media division. Salem Web Network is a provider of online Christian and conservative-themed content and streaming and includes websites such as Christian faith focused Christianity.com, Questions and Answers about Jesus Christ at Jesus.org, Christian living focused Crosswalk.com®, online Bible at BibleStudyTools.com, and Christian radio ministries online at OnePlace.com. Additionally Salem owns conservative news leader Townhall.com® and conservative political blog, HotAir.com providing conservative commentary, news and blogging. Salem Publishing™ circulates Christian and conservative magazines such as Homecoming® The Magazine, YouthWorker Journal™, The Singing News, FaithTalk Magazine, Preaching and Townhall Magazine™. Xulon Press™ is a provider of self publishing services targeting the Christian audience.
Company Contact: Evan D. Masyr Salem Communications (805) 987-0400 ext. 4512 Email Contact
Source: Salem Communications Corporation
Released February 28, 2011