UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 -------------- SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) (Amendment No. _________ )* SALEM COMMUNICATIONS CORPORATION ------------------------------------------------------- (Name of Issuer) CLASS A COMMON STOCK, $0.01 PAR VALUE ------------------------------------------------------- (Title of Class of Securities) 794093 10 4 ------------------------------------------------------- (CUSIP Number) December 31, 1999 ------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [ ] Rule 13d-1(c) [X] Rule 13d-1(d) - ------------------ * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 794093 10 4 13G Page 1 of 4 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Edward G. Atsinger, III (###-##-####), S.S. or I.R.S. IDENTIFICATION as Trustee of the Edward G. Atsinger NO. OF PERSON III Trust, U/D/T dated June 18, 1997 (###-##-####); as Trustee of the E. Atsinger 1999 Trust No. 1, U/D/T dated March 31, 1999 (###-##-####); as Trustee of the M. Atsinger 1999 Trust No. 1, U/D/T dated March 31, 1999 (###-##-####) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF 4,083,696 shares SHARES ------------------------------------------------- 6 SHARED VOTING POWER BENEFICIALLY 0 OWNED BY ------------------------------------------------ EACH 7 SOLE DISPOSITIVE POWER REPORTING 4,083,696 PERSON ------------------------------------------------ 8 SHARED DISPOSITIVE POWER WITH 0 - ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,083,696 shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 22.9% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (See Instructions) 00 (Trust) - -------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! Page 2 of 4 Pages ITEM 1(a). NAME OF ISSUER: Salem Communications Corporation ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 4880 Santa Rosa Road, Suite 300, Camarillo, California 93012 ITEM 2(a). NAME OF PERSON FILING: This statement is filed by Edward G. Atsinger, III, as Trustee of the Edward G. Atsinger III Trust, U/D/T dated June 18, 1997; as Trustee of the E. Atsinger 1999 Trust No. 1, U/D/T dated March 31, 1999; and as Trustee of the M. Atsinger 1999 Trust No. 1, U/D/T dated March 31, 1999. ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 4880 Santa Rosa Road, Suite 300, Camarillo, California 93012 ITEM 2(c). CITIZENSHIP: United States of America ITEM 2(d). TITLE OF CLASS OF SECURITIES: This statement relates to the Class A Common Stock, par value $0.01 per share, of Salem Communications Corporation (the "Class A Common Stock") ITEM 2(e). CUSIP NUMBER: 794093 10 4 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR 13d-2(b) or (c), CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under Section 15 of the Exchange Act; (b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act; (c) [ ] Insurance company as defined in Section 3(a)(19) of the Exchange Act; (d) [ ] Investment company registered under Section 8 of the Investment Company Act; (e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; Page 3 of 4 Pages (j) [ ] Group, in accordance with Rule 13d-1(b)(ii)(J). Not applicable. ITEM 4. OWNERSHIP. (a) AMOUNT BENEFICIALLY OWNED: As of December 31, 1999, Edward G. Atsinger, III was deemed to beneficially own 1,584,560 shares of Class A Common Stock held by the Edward G. Atsinger III Trust, U/D/T dated June 18, 1997, 1,249,568 shares of Class A Common Stock held by the E. Atsinger 1999 Trust No. 1 U/D/T dated March 31, 1999, and 1,249,568 shares of Class A Common Stock held by the M. Atsinger 1999 Trust No. 1, U/D/T dated March 31, 1999. (b) PERCENT OF CLASS: 22.9% (c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS: (i) SOLE POWER TO VOTE OR TO DIRECT THE VOTE - 4,083,696 (ii) SHARED POWER TO VOTE OR TO DIRECT THE VOTE - 0 (iii) SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF - 4,083,696 (iv) SHARED POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF - 0 ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. Not applicable. ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. Not applicable. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY. Not applicable. ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. Page 4 of 4 Pages Not applicable. ITEM 9. NOTICE OF DISSOLUTION OF GROUP. Not applicable. ITEM 10. CERTIFICATION. Not applicable. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 11 , 2000 /s/ Edward G. Atsinger, III -------------------------------------- Edward G. Atsinger, III