CHRISTIAN-BASED RADIO FIRM REPORTING PROFIT.Byline: Chris Sieroty Staff Writer CAMARILLO - Salem Communications Salem Communications (NASDAQ: SALM) is a media company specializing in religious and conservative talk radio which operates in the United States, with 99 U.S. commercial radio stations (pending acquisitions) that are primarily concentrated in the nation's biggest markets, Corp. reported Thursday that the company made money in the third quarter, due to a 28 percent increase in broadcast revenues. The company also announced the acquisition of WCLV-FM in Cleveland. The Camarillo-based provider of Christian-oriented radio, Internet and print content earned $13.8 million, or 59 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , for the quarter ended Sept. 30, compared with a loss of $3.7 million, or 16 cents per share, in the same period last year. ``Our record third quarter results highlight the benefits of Salem's unique business model, especially given the recent softening softening /sof·ten·ing/ (sof´en-ing) malacia. softening a change of consistency, with loss of firmness or hardness. advertising trends in the radio industry,'' said Edward G. Atsinger III, Salem's chief executive officer. The company's nonbroadcast media businesses, OnePlace.com and CCM Communications CCM Communications, now part of and operating as Salem Publishing, publishes CCM Magazine. It was founded in June 1978 to publish the namesake magazine. The name changed as the company expanded into radio and the Internet. , generated a loss of $1.2 million for the quarter, compared with a loss of $1.4 million for the same period last year. Atsinger also said Salem had entered into an agreement with Radio Seaway Inc. and Clear Channel Communications Not to be confused with clear channel radio stations, which are AM radio stations with certain technical parameters. Clear Channel Communications (NYSE: CCU) is a media conglomerate company based in the United States. involving several stations in Cleveland and the surrounding areas. Salem will acquire WCLV-FM from Radio Seaway in exchange for giving them WHK-AM. Salem's WHK goes to Clear Channel. Clear Channel hands over WAKS-FM in Lorraine, Ohio, to Radio Seaway. Atsinger said as part of the agreement, Salem will pay $10.5 million in cash to Radio Seaway. The deal was expected to close early next year. ``Radio has done really well, but a lot of it has been due to the consolidation in the industry,'' said Jake Balzer, a media analyst with Edward Jones Edward, Eddie, or Ed Jones is the name of: Edward Jones:
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