Salem Communications to Sell WCCD -1000 AM- in Cleveland.CAMARILLO, Calif. -- 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, Corporation (Nasdaq:SALM), the leading radio broadcaster focused on Christian and family-themed programming, announced that it has agreed to sell WCCD WCCD World Congress on Communication for Development (1000 AM), Parma, Ohio Parma is a city in the U.S. state of Ohio in Cuyahoga County and is the largest suburb of Cleveland. As of the 2000 census, the city had a total population of 85,655. The 2003 estimate put the population at 83,861. , (Cleveland market) to New Spirit Revival Center Ministries, Inc., for $2.1 million. Salem owns and operates five radio stations serving the Cleveland area including News Talk WHK (1420 AM) , Sports Talk WKNR (850 AM), The Fish(R) WFHM WFHM Wells Fargo Home Mortgage (95.5 FM), and Christian Teaching and Talk stations WHKW (1220 AM), and WHKZ (1440 AM), which serves Warren, Ohio Warren is a city in the U.S. state of Ohio and the county seat of Trumbull CountyGR6. The municipality is located in northeastern Ohio, approximately 14 miles (22 km) northwest of Youngstown and 15 miles (24 km) west of the Pennsylvania state line. . Errol Dengler is vice president and market manager for the Cleveland cluster of radio stations. Salem Communications Corporation (Nasdaq:SALM), headquartered in Camarillo, Calif., is the leading U.S. radio broadcaster focused on Christian and family-themed programming. Upon the close of all announced transactions, the company will own 105 radio stations, including 67 stations in 24 of the top 25 markets. In addition to its radio properties, Salem owns Salem Radio Network(R), which syndicates talk, news and music programming to approximately 1,900 affiliates; Salem Radio Representatives(TM), a national radio advertising sales force; Salem Web Network Salem Web Network represents the largest faith-based audiences on the Internet and is headquartered in Richmond, Virginia with offices in Dallas and Nashville. Salem Web Network is owned and operated by Salem Communications Salem Corp. (TM), a leading Internet provider Internet provider - Internet Service Provider of Christian content and online streaming; and Salem Publishing(TM), a leading publisher of Christian themed magazines. Additional information about Salem may be accessed at the company's website, www.salem.cc. Forward-Looking Statements Statements used in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially from those anticipated as a result of certain risks and uncertainties, including but not limited to the ability of Salem to close and integrate announced transactions, market acceptance of Salem's radio station formats, competition from new technologies, adverse economic conditions, and other risks and uncertainties detailed from time to time in Salem's reports on Forms 10-K, 10-Q, 8-K and other filings filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Salem undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events. |
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