Salem Communications to Enter Orlando, Fla. Market in Radio Station Swap

Wednesday, September 7, 2005 10:06 am PDT
CAMARILLO, Calif.--(BUSINESS WIRE)--Sept. 7, 2005--Salem Communications Corporation (Nasdaq:SALM), the leading radio broadcaster focused on Christian and family-themed programming, today announced that it will acquire WORL-AM (660), which serves the Orlando, Fla. from James Crystal Florida, Inc., in exchange for Salem's KNIT-AM (1480), which serves the Dallas, Texas market. The transaction is subject to required regulatory approvals and other closing conditions and is expected to close in the first quarter of 2006.

Edward G. Atsinger III, president and CEO of Salem Communications, commented, "This exchange allows Salem to enter the growing Orlando market, the 36th largest in the country in terms of population but 23rd in advertising dollars spent. In addition, since 1994, Orlando has been the country's second fastest growing market in terms of employment growth. This fits Salem's strategy of growing our station portfolio in the nation's top markets."

News Talk 660AM KSKY, (KSKY-AM 660), 94.9 FM KLTY, (KLTY-FM 94.9), The Word 100.7, (KWRD-FM 100.7), and KNIT-AM 1480 are owned and operated by Salem Communications Corporation (Nasdaq:SALM). Headquartered in Camarillo, Calif., Salem is the leading U.S. radio broadcaster focused on Christian and family-themed programming. Upon the close of all announced transactions, the company will own 104 radio stations, including 65 stations in 24 of the top 25 markets. In addition to its radio properties, Salem owns Salem Radio Network(R), which syndicates talk, news and music programming to approximately 1,900 affiliates; Salem Radio Representatives(TM), a national radio advertising sales force; Salem Web Network(TM), a leading Internet provider of Christian content and online streaming; and Salem Publishing(TM), a leading publisher of Christian-themed magazines. Additional information about Salem may be accessed at the company's website,

Forward-Looking Statements

Statements used in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those anticipated as a result of certain risks and uncertainties, including but not limited to the ability of Salem to close and integrate announced transactions, market acceptance of Salem's radio station formats, competition from new technologies, adverse economic conditions, and other risks and uncertainties detailed from time to time in Salem's reports on Forms 10-K, 10-Q, 8-K and other reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Salem undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.

Salem Communications Corporation
Denise Davis, 805-384-4508