Salem Web Network Acquires Samaritan Fundraising
RICHMOND, VA -- (MARKET WIRE) -- 09/20/10 -- Salem Web Network, the online division of Salem Communications Corporation (NASDAQ: SALM), the leading radio broadcaster, Internet content provider and publisher targeting audiences interested in Christian family-themed content, announced that it has acquired Samaritan Fundraising, an innovative fundraising products company focused on the fundraising needs of church-based groups and organizations.
The addition of Samaritan Fundraising will complement Salem Web Network's portfolio of brands focused on aiding local churches, ministries, and organizations. "Samaritan Fundraising has become a success with its Samaritan Card program," said Rick Killingsworth, Executive Vice President of Salem Web Network. "We are excited about offering this fast and effective fundraising product to Christian organizations."
"Christian fundraising is often a tiresome and laborious task for churches and ministries who rely on donor support for their everyday operational needs," said Killingsworth. "This acquisition gives us the ability to become a provider of easy, profitable fundraising, allowing ministries and churches to focus their time and energy on their real mission."
The Samaritan Card is based on the principal of donors purchasing a $20 shopping discount card to receive savings of up to 50% at 100,000 affiliate partners nationwide such as Target, Best Buy, AMC and Regal Theaters, etc. Fundraising groups earn profits of 50-80% on the sale of the cards.
Samaritan Fundraising's founder, Tom Freiling, joins Salem as Vice-president and General Manager. He will continue to pilot operations from the company's offices in Fairfax, Virginia. Freiling said, "By combining our innovative fundraising company with the significant reach of Salem Communications, it's exciting to think about how many more churches and Christian groups will achieve their fundraising goals."
About Salem Communications and Salem Web Network:
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 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.
Salem 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.
Rick Killingsworth E.V.P New Media (804) 205-9696 Email Contact Kristie Rutzel Director of Marketing & SEO (804) 205-9674 Email Contact
Released September 20, 2010