SALEM EXPANDS ITS RADIO MARKET SALEM BUYS TWO ANAHEIM STATIONS.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., the nation's leading multimedia religious company, said Monday that it will pay $185.6 million in cash to acquire eight radio stations from 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. Inc. The stations, located in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , Ohio, Colorado, and Texas, are among 72 stations nationwide Clear Channel will sell as part of its pending merger with 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. Clear Channel, the nation's largest radio company, announced last fall that it planned to purchase AMFM for about $16.6 billion in stock. If approved by federal regulators, 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 Clear Channel would become the world's largest radio company with 820 stations. Under the terms of the deal, Salem would acquire KEZY-AM (1190) and KXMX-FM (95.9), both in Anaheim, along with stations in Cleveland, Cincinnati, Dallas and Denver. ``These radio stations are tremendous broadcast facilities that complement our existing operations and strengthen our strategic position in the radio industry,'' Edward G. Atsinger III, Salem's chief executive officer, said in a statement. Camarillo-based Salem said its acquisitions are contingent on Adj. 1. contingent on - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent upon, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent the completion of the merger between AMFM and Clear Channel. Upon the close of this transaction, the company will operate 70 stations, including 52 stations in the top 25 markets. Adding eight radio stations will drive growth in Salem's various lines of business, which include radio stations, an Internet portal and magazine publishing, Atsinger said. With the purchase of two additional Southern California stations in Anaheim, the religious broadcaster will own or operate, or both, stations from Oxnard to San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . Currently, Salem's Southern California properties include KLTZ-AM (1390), KLTH-AM (1240) and KKLA-FM (99.5), all in Glendale; Oxnard-based KDAR-FM (98.3), which covers Ventura and Santa Barbara Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. counties; and KPRZ-AM (1210) and KCBQ-AM (1170), both in San Diego. In addition to its radio properties, Salem owns the Salem Radio Network, which syndicates talk programming, news and music to more than 1,300 affiliates nationwide. The company also owns OnePlace Ltd., a technology company that operates the Christian online portal OnePlace.com, and CCM Communications, the leading publisher of contemporary Christian music Contemporary Christian Music (or CCM; also by its religious neutral term Inspirational music) is a genre of popular music which is lyrically focused on matters concerned with the Christian faith. trade and consumer publications. Last month, Salem acquired Nashville-based Reach Satellite Network for $3.1 million. Reach Satellite assets include the Solid Gospel Radio Network, a satellite-delivered programming service, two gospel radio stations in Nashville and a gospel music Web site. Salem's stock closed Monday at $14.75, down 38 cents. CAPTION(S): map Map: SPREADING THE GOSPEL Salem Communications Corp. expands deeper into Southern California, with the purchase of two Orange County radio stations from AMFM, Inc. Daily News |
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