Salem Communications Announces Atlanta Station Acquisition Closing

Tuesday, June 29, 2004 11:18 am PDT
market not identified:
CAMARILLO, Calif.--(BUSINESS WIRE)--June 29, 2004--Salem Communications Corporation (Nasdaq:SALM), the leading radio broadcaster focused on religious and family themed programming, announced today that it has closed the acquisition of WAFS-AM (920 AM) in Atlanta, Georgia, from Moody Bible Institute. The station is scheduled to be re-launched in Salem Communications' successful News/Talk format in early August. Listeners still will be able to hear their favorite Christian teaching and talk programs on Salem Communications stations WLTA-AM (1400 AM) and WNIV-AM (970 AM).

Allen Power, vice president and general manager of the Salem Communications' Atlanta stations WFSH-FM (104.7 FM), WGKA-AM (1190 AM), WLTA-AM (1400 AM) and WNIV-AM (970 AM), will serve as general manager of the new station. He commented, "The addition of WAFS-AM is an extraordinary opportunity to further serve the valued listeners of Atlanta. This acquisition affords us the opportunity to welcome the WAFS listeners to the Christian programming we already provide in this market and to expand our reach in the community."

About Salem Communications

Salem Communications Corporation, headquartered in Camarillo, California, is the leading U.S. radio broadcaster focused on religious and family themes programming. Upon completion of all pending transactions, the company will own and/or operate 97 radio stations, mainly composed of three primary formats: Christian Teaching/Talk; News/Talk; and Contemporary Christian Music. In addition to its radio properties, Salem owns the Salem Radio Network, which syndicates talk, news and music programming to over 1,600 affiliated radio stations; Salem Radio Representatives, a national sales organization; Salem Web Network, the leading Internet provider of Christian content and online streaming; and Salem Publishing, a Christian magazine publisher. For more information, visit Salem Communications' web site at

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 recently launched music formats, competition in the radio broadcast, Internet and publishing industries and from new technologies, adverse economic conditions, and other risks and uncertainties detailed from time to time in Salem's periodic reports on Forms 10-K, 10-Q, 8-K and other filings 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