Under the terms of the agreement, WaterStone will acquire all outstanding shares of Salem Media common stock for $1.00 per share, representing approximately a 250% premium over Salem’s recent trading price.

Edward Atsinger III, Salem co-founder and board member, said finding the right long-term steward for the company was a priority. “For the last ten years the Atsinger and Epperson families have been looking for a successor that would continue to carry the torch of delivering quality Christian and conservative media into the next generation and beyond. When we met with WaterStone, some 24 months ago, we believed it was a divine appointment. WaterStone is deeply aligned with the vision we had when our families founded this company.”

The agreement follows a period of significant momentum for Salem across both broadcast and digital media. While much of the radio industry faced declining advertising revenue of -3.4% in the first quarter, according to Miller Kaplan, Salem posted positive local radio growth of +2.8%, excluding the impact of recently sold stations, outperforming broader industry trends by more than six percentage points through its strong programming, trusted talent, and longstanding relationships with ministries, advertisers, and audiences nationwide.

Salem has also continued expanding its national radio, streaming, and podcast platforms with one of the strongest lineups in conservative media, including voices such as Scott Jennings, Larry O'Connor, Alex Marlow, and Lara Trump, alongside many of the most influential personalities in Christian broadcasting like Greg Laurie, Sean McDowell, Becket Cook, and Kirby Kelly.

David Santrella, Chief Executive Officer of Salem Media, said the partnership was built around long-term alignment and a shared commitment to Salem’s mission. “WaterStone understands who we are and why Salem has mattered for over 50 years,” Santrella said. “This partnership will accelerate our ability to expand the reach of our mission for years to come.”

Over the last 18 months, Salem and WaterStone have worked together on several strategic initiatives tied to the company’s long-term growth and organizational vision. WaterStone’s previous preferred stock investments in Salem gave them 49.5% voting interest in the company.

Today, Salem remains one of the largest Christian and conservative multimedia companies in America, reaching millions of listeners, readers, viewers, and podcast consumers each month through its national radio network, streaming platforms, digital media brands, and publishing platforms.

Richard von Gnechten, Chairman of Salem Media’s Board of Directors and President of WaterStone, said the partnership reflects years of shared vision and alignment between the organizations. “This is about building on what makes Salem unique,” von Gnechten said. “Salem has spent decades earning the trust of listeners, ministries, advertisers, and audiences by staying true to its mission. WaterStone believes deeply in that mission and in the people behind it. This partnership gives Salem additional strength and long-term stability while creating new opportunities to expand its reach for the future - which is why we are making this investment.”

The transaction was unanimously approved by Salem’s Board of Directors and is expected to close in August 2026, subject to shareholder and regulatory approvals.

About Salem Media
Salem Media is America’s premier multimedia company specializing in Christian and conservative content. Through its national radio network, digital platforms, and publishing brands, Salem reaches millions daily with powerful content that drives the national conversation. Learn more at salemmedia.com.

About WaterStone
WaterStone is a Christian foundation dedicated to advancing Kingdom impact through faithful stewardship, generosity, and mission-driven leadership. Through its charitable giving strategies and long-term investments, WaterStone partners with individuals, families, ministries, and organizations to support lasting faith-based impact and strengthen the future of Christian institutions and outreach. Learn more at waterstone.org.

Company Contact: Publicity@salemmedia.com

PDF available: https://ml.globenewswire.com/media/80bea083-a723-4080-9b4d-a2c035a80161/document/?v=05122026072400

O’Connor is best known as the host of the highly successful O’Connor & Company morning show on WMAL in Washington, D.C., and as Editor of Townhall.com. As part of this expansion, O’Connor & Company will continue in its longstanding 6:00–9:00 a.m. Eastern time slot on WMAL while also serving as Salem’s flagship national morning program, bringing its trusted voice and insider perspective to audiences nationwide.

For more than a decade, O’Connor has been at the center of the political conversation in Washington, with a daily radio show and podcast followed by lawmakers, White House staff, media figures, and political insiders. In this expanded role, he will help set the tone for the day’s news across Salem’s platforms, delivering timely analysis, impactful interviews, and sharp commentary to a growing national audience.

By aligning O’Connor’s leadership role at Townhall.com with his national radio and television presence—and his growing digital footprint—Salem is further strengthening its integrated, cross-platform content strategy. This move positions O’Connor at the forefront of conservative political discourse while reinforcing Salem Media’s role as a leading destination for news, commentary, and influential voices.

 “Larry is the go-to media voice for the people shaping policy in our nation’s capital,” said Phil Boyce, Senior Vice President of Content at Salem Media. “He’s built a show insiders rely on and an audience that cares deeply about the direction of the country. We’re proud to expand that success across our national lineup, leading the conversation every morning across America.”

From 6:00–9:00 a.m. Eastern, O’Connor & Company will drive coverage of the day’s most important political stories, airing on more than 140 affiliated stations on the Salem Radio Network and simulcast on the Salem News Channel.

 “We’re excited to bring O’Connor & Company to a broader national audience while maintaining the strong foundation and audience connection the show has built in Washington,” said O’Connor. “At the same time, we’re building the future of media across radio, streaming, and digital platforms with Townhall and the Salem News Channel. Salem’s integrated vision aligns perfectly with my work across platforms, including my daily streaming show LARRY, and makes this an incredibly exciting next chapter. I’m also thrilled that my longtime collaborator and executive producer, Heather Hunter, will continue with the program as we expand nationwide.”

“The growth of O’Connor & Company reflects the strength of the show and its connection with listeners,” said Jeff Boden, Vice President and Market Manager at Cumulus Media. “We’re pleased to see the program reach new audiences while continuing to serve our listeners in Washington each morning.”

Following the morning broadcast, O’Connor will host his live digital show, LARRY, streaming at 12:00 p.m. Eastern on YouTube, Rumble, Facebook, and Townhall.com, extending the conversation throughout the day.

With O’Connor anchoring the morning lineup, Salem Media continues to deliver compelling, news-driven programming that informs audiences, challenges mainstream narratives, and holds leaders accountable.

For more information and to watch the Salem News Channel lineup, visit SalemNewsChannel.com.

About Salem Media
Salem Media is America’s premier multimedia company specializing in Christian and conservative content. Through its national radio network, digital platforms, and publishing brands, Salem reaches millions daily with powerful content that drives the national conversation. Learn more at salemmedia.com.

Company Contact:
Publicity@salemmedia.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/04a8835d-b4e0-4d98-98ea-87f7e5da84b9

Larry O'Connor

Salem Media Elevating Townhall Editor to Anchor Morning Lineup

Elder, a New York Times bestselling author and host of the nationally syndicated Larry Elder Show, is heard weekdays from 3 to 6 p.m. Pacific Time on flagship station AM 870 The Answer, KRLA in Los Angeles, and across Salem Radio Network affiliates nationwide. Known as “The Sage from South Central,” Elder has been a consistent voice in talk radio for more than 30 years, shaping national conversations on politics, culture and policy.

The 2026 nomination was determined by a committee of 24 radio industry professionals who evaluate career achievement and influence. More than 1,000 radio hosts, programmers and executives will receive confidential ballots in the coming weeks, with inductees expected to be announced in May.

“Larry has built one of the most recognizable and enduring brands in talk radio,” said Phil Boyce, Senior Vice President of Content at Salem Media. “To be nominated again by a new group of industry leaders speaks to the strength of his voice, his audience connection and the impact he continues to have across the country. We believe he is more than deserving of this honor.”

Elder began his radio career in 1994 at KABC in Los Angeles under General Manager George Green where he won a Los Angeles Area Emmy in 1999. He later became nationally syndicated by ABC Radio. He was awarded a Star on the Hollywood Walk of Fame in 2015 and in 2016, he joined AM 870 The Answer, KRLA, where he continues to host his daily program. He was first introduced to radio audiences by Dennis Prager, who invited him as a guest on his KABC show.

In 2021, Elder stepped away from radio to run in California’s gubernatorial recall election, where he was the top vote-getting challenger among more than 50 candidates seeking to replace Governor Gavin Newsom. The campaign expanded his national profile and reinforced his standing as a leading voice in conservative media.

Elder holds a Bachelor’s degree from Brown University and a Juris Doctor from the University of Michigan.

The Radio Hall of Fame recognizes individuals whose work has made a lasting impact on the radio industry and its audiences. Elder’s continued recognition reflects both his longevity and his influence in shaping modern talk radio.

About Salem Media

Salem Media is America’s premier multimedia company specializing in Christian and conservative content. Through its national radio network, digital platforms, and publishing brands, Salem reaches millions daily with powerful content that drives the national conversation. Learn more at salemmedia.com.

Company Contact:
Publicity@salemmedia.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/67baac61-ae6a-432d-8d7b-0dba37fc95c8

Larry Elder

Salem Radio Network host

With this launch, Salem News Channel joins Roku’s FAST (free ad-supported streaming TV) ecosystem, bringing its live programming into a curated channel lineup used by millions of viewers and advancing Salem’s strategy of meeting audiences where content discovery is increasingly happening.

While Salem News Channel has long been available through a dedicated Roku app, this new distribution places the network directly within Roku’s Live TV guide, allowing viewers to discover as they browse and begin watching instantly.

“This is a significant expansion of Salem News Channel’s reach, which already increased viewership by over 178% this year,” said Cary Pahigian, Vice President and General Manager of Salem News Channel. “Being part of The Roku Channel opens the door for entirely new audiences to discover the unique news and opinion that SNC provides.”

The launch positions Salem News Channel alongside a growing lineup of national news and opinion networks within The Roku Channel’s live environment, where viewers are increasingly turning for always-on, real-time programming. Salem News Channel delivers live news, in-depth analysis, and interviews with influential voices, offering perspective on the issues shaping the country and culture.
This expansion builds on Salem’s broader streaming strategy, which includes distribution across connected TV platforms, mobile, and web, and reflects the company’s continued investment in expanding its reach through high-impact platforms.

For more information about Salem News Channel and its programming, visit SNC.TV.

About Salem Media

Salem Media is America’s premier multimedia company specializing in Christian and conservative content. Through its national radio network, digital platforms, and publishing brands, Salem reaches millions daily with powerful content that drives the national conversation. Learn more at salemmedia.com.

Company Contact:
Publicity@salemmedia.com

About Salem Media

Salem Media is America’s premier multimedia company specializing in Christian and conservative content. Through its national radio network, digital platforms, and publishing brands, Salem reaches millions daily with powerful content that drives the national conversation. Learn more at salemmedia.com.

Company Contact:
Publicity@salemmedia.com

The launch took effect on Tuesday, March 3, marking a significant expansion of Salem News Channel’s distribution. As Amazon Prime Video expands its free ad-supported streaming TV (FAST) offerings, Salem News Channel is now available to a wider audience looking for real-time news and opinion.

Viewers can access Salem News Channel by navigating to the Live TV section within Amazon Prime Video, where the channel joins a growing selection of news and informational programming.

“Expanding Salem News Channel onto Prime Video allows us to bring our programming to one of the largest streaming audiences in the world,” said Cary Pahigian, Salem News Channel Vice President and General Manager. “As more viewers shift to streaming platforms for news and commentary, we are focused on ensuring Salem’s voices and perspectives are available wherever audiences are watching.”

Salem News Channel features live news coverage, interviews, and commentary from leading conservative and Christian voices and Salem personalities, delivering perspective on the stories shaping the nation and the world.

The addition to Amazon Prime Video complements Salem News Channel’s existing availability across multiple streaming platforms and connected TV devices, further strengthening Salem’s growing digital and streaming footprint.

For more information about Salem News Channel and its programming, visit SNC.TV.

About Salem Media

Salem Media is America’s premier multimedia company specializing in Christian and conservative content. Through its national radio network, digital platforms, and publishing brands, Salem reaches millions daily with powerful content that drives the national conversation. Learn more at salemmedia.com.

Company Contact:
Publicity@salemmedia.com

The award was presented during a private gathering at the 2026 National Religious Broadcasters (NRB) Convention, recognizing Dr. MacArthur as the fourth recipient of the honor. Dr. MacArthur passed away on July 14, 2025, at the age of 86.

Established in 2024, the Stuart Epperson Award honors the legacy of Salem co-founder and longtime chairman Stuart Epperson and recognizes leaders whose work reflects faithfulness, integrity, and enduring Gospel impact in Christian media.

Dr. MacArthur served as pastor-teacher of Grace Community Church in Sun Valley, California, for 56 years and became one of the most influential Bible expositors of the modern church through his verse-by-verse teaching ministry.

“For more than five decades, Dr. MacArthur exemplified unwavering commitment to Christ and Scripture,” said Dave Santrella, Chief Executive Officer of Salem Media. “Only Heaven will reveal how many millions have come to Christ and learned to love His Word verse-by-verse because of the life and ministry of Dr. MacArthur.”

Dr. MacArthur was the founder and featured Bible teacher of Grace to You, a daily radio program airing since 1977. He was the General Editor of the MacArthur Study Bible, which has sold more than four million copies, the author of more than 400 books and left a library of more than 3,000 sermons that continue to disciple believers worldwide.

He also founded The Master’s Seminary and served as president of The Master’s University, helping train thousands of pastors and Christian leaders serving across the United States and nearly seventy countries.

The award was accepted on behalf of Dr. MacArthur’s ministry by Jay Flowers, Chief Operating Officer of Grace to You, during the private NRB presentation.

John MacArthur began a lifelong friendship with Salem media co-founder Edward G. Atsinger III while attending Bob Jones University between 1957-1959.

Previous recipients of the Stuart Epperson Award include Nancy and Stu Epperson Jr., Charles R. Swindoll and Dr. David Jeremiah.

About the Stuart Epperson Award for Excellence in Christian Media

Created by Salem Media in 2024, the Stuart Epperson Award honors leaders whose contributions to Christian media exemplify faithfulness, leadership, and enduring Gospel impact, reflecting the legacy of Salem’s co-founder and longtime chairman.

About Salem Media

Salem Media is America’s premier multimedia company specializing in Christian and conservative content. Through its national radio network, digital platforms, and publishing brands, Salem reaches millions daily with powerful content that drives the national conversation. Learn more at salemmedia.com.

Company Contact:
Publicity@salemmedia.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/539020fa-a8ab-4f81-8add-1c57a297daa7

Jay Flowers & Chris Gould

2026 Stuart Epperson Award for Excellence in Christian Media to Dr. John Fullerton MacArthur Jr., accepted by Jay Flowers, Chief Operating Officer of Grace to You

Hosted by conservative author Danielle Gill, the podcast will deliver insightful and timeless analysis of cultural issues, politics, news, and the social trends shaping our country today. New episodes will be released four times per week across the Salem Podcast Network.

“I’m launching this podcast to create space for thoughtful conversations about culture, politics, and Christianity,” said Danielle Gill. “This podcast is an extension of the conversations I’m already having — about faith, family, and what it means to live with conviction in a liberal culture. I’m excited to bring those discussions to a wider audience.”

The Danielle Gill Show will feature Danielle’s interviews with prominent guests discussing the cultural battles facing the country, and the ideas that have shaped the West.

A unique voice in conservative media, Danielle brings a next-generation perspective with sharp, thoughtful commentary. As a young mother, she also speaks directly to the concerns of families navigating an increasingly postmodern and godless culture.

As an advocate for Christianity and the unborn, Danielle is the author of YGod: An Intelligent Discussion on the Relevance of Faith and The Choice: The Abortion Divide in America. She has produced digital content for PragerU, served as an ambassador for Turning Point USA, and regularly appears across national media, including Salem platforms.

“Danielle represents the next generation of conservative voices,” said Phil Boyce, Senior Vice President of Content at Salem Media. “As Salem continues to invest in new talent and new platforms, her voice reflects both where the conservative audience is headed and the future we’re building at the Salem Podcast Network.”

Salem Podcast Network launches The Danielle Gill Show at a time of accelerating digital growth across Salem’s national ecosystem. In January 2026 alone, Salem generated 282.5 million impressions, 107.1 million video views, and 19 million engagements — marking double-digit month-over-month gains across nearly every key metric, including a 44% surge in video views and 47% increase in net new audience.

With Townhall Media, NewsTalk, Christian Teaching & Talk, and Salem Radio Network hosts all contributing to record-setting momentum, Salem now sustains nearly 300 million monthly digital impressions and over 100 million monthly video views across its platforms.

Danielle resides in North Texas with her husband, Congressman Brandon Gill, and their two children, Marigold and Winston. She is also the daughter of conservative author and pundit, Dinesh D’Souza.

Dinesh commented, “I'm proud to announce that my daughter Danielle has a new podcast, The Danielle Gill Show! She brings freshness and insight and I'll be popping by on the show as well which is going to be a lot of fun. Please watch it!”

The Danielle Gill Show will be available on all major podcast platforms and distributed nationwide by the Salem Podcast Network.

About Salem Media
Salem Media is America’s premier multimedia company specializing in Christian and conservative content. Through its national radio network, digital platforms, and publishing brands, Salem reaches millions daily with powerful content that drives the national conversation. Learn more at salemmedia.com.

Company Contact:
Publicity@salemmedia.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e2bfeba8-cad4-49c8-921e-c834f6d451fb

Danielle Gill

The Daily Gill Show Host and Conservative Author

The award, established in 2024, honors the legacy of Salem co-founder and longtime chairman Stuart Epperson, who passed away in July 2023. Epperson co-founded Salem in 1974 with his brother-in-law Edward G. Atsinger III, building what would become the nation’s leading Christian and conservative media company.

Known as “Big Stu,” Epperson was widely known as a mentor, a faithful Christian statesman, and a friend to leaders across Christian broadcasting and ministry. This award recognizes individuals whose work in Christian media reflects the same commitment to faithfulness, integrity, and Gospel impact that defined his life.

Dr. Jeremiah was honored in front of more than 500 ministry and media leaders gathered for Salem’s annual NRB breakfast, a tradition spanning more than two decades.

“Dr. Jeremiah’s ministry has shaped generations of believers through faithful Bible teaching and a steadfast commitment to the Gospel,” said David P. Santrella, Chief Executive Officer. “His life’s work reflects the very qualities Stuart Epperson championed in Christian broadcasting.”

The inaugural presentation of the award in 2024 was made by Atsinger to Stuart’s wife, Nancy Epperson, and their son, Stuart Epperson Jr., in tribute to the family whose faith helped build Salem’s mission. In 2025, the award was presented to Charles R. Swindoll, longtime pastor and Bible teacher who is heard worldwide on Insight for Living.

About the Stuart Epperson Award for Excellence in Christian Media

Created by Salem Media Group in 2024, the award commemorates the life and legacy of Stuart Epperson by honoring leaders whose contributions to Christian media exemplify faithfulness, leadership, and enduring Gospel impact.

About Salem Media

Salem Media is America’s premier multimedia company specializing in Christian and conservative content. Through its national radio network, digital platforms, and publishing brands, Salem reaches millions daily with powerful content that drives the national conversation. Learn more at salemmedia.com.

Company Contact:
Publicity@salemmedia.com