SALEM CORP. BUYING DALLAS RADIO STATION.Byline: Chris CHRIS Chemical Hazards Response Information System (US DoD) CHRIS California Historical Resources Information System CHRIS Computerized Human Resources Information System CHRIS Command Human Resources Intelligence System Sieroty Staff Writer CAMARILLO Camarillo (kă'mərē`yō), city (1990 pop. 52,303), Ventura co., S Calif.; inc. 1964. It is the center of a fertile farm area where citrus fruits and flowers are grown. - After months of negotiations, 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., the nation's leading multimedia religious company, agreed on Monday to buy a Dallas radio station for $7.5 million cash and one of its properties. As part of the deal with San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. , Texas-based AMFM AMFM Association of Marriage and Family Ministries AMFM Automated Mapping Facilities Management AMFM Association des Modélistes Ferroviaires de Montréal (French: Montreal Railroad Modelers Association) Inc. for KSKY- AM, Salem will give that company KPRZ-AM, one of three stations it owns in Colorado Springs Colorado Springs, city (1990 pop. 281,140), seat of El Paso co., central Colo., on Monument and Fountain creeks, at the foot of Pikes Peak; inc. 1886. It is a year-round resort and a booming military, technological, and commercial city. . Camarillo-based Salem expected the deal to close by July. That will give Salem ownership of one AM and one FM station in the Dallas-Ft. Worth area, the nation's sixth-largest radio market. The company will also continue to own and operate KGFT-FM and KBIQ-FM in Colorado Springs. ``We purchased KSKY as part of our strategy to have second and third stations in markets where we already have a presence,'' said Eric Halvorson, Salem's executive vice president. The Dallas station also offered Christian programming so Salem is buying out a competitor, he said. Halvorson said the station will continue its current talk format. Founded in 1941, KSKY has operated as a full-time Christian station since 1963. ``This transaction was worked on for several months,'' said Halvorson, ``and had been delayed while the AMFM/Clear Channel merger was completed.'' Upon the close of this transaction, 35 of Salem's 62 stations will be located in the nation's top 20 media markets. Salem's stock closed Monday at 17.25, down 50 cents. |
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