Salem Media Group, operating in selective divestiture mode, announces it is selling contemporary Christian KAIM-FM, Honolulu and WFFI-FM, Kingston Springs/WFFH-FM, Smyrna/WBOZ-FM, Woodbury in the Nashville market to Educational Media Foundation for $7 million. Salem notes that its
Nashville-based Today’s Christian Music network (TCM) is not affected by these transactions. Salem Media Group CEO David Santrella comments, “Salem remains steadfast in our commitment to paying down debt and reducing our overall leverage. The sale of these radio stations helps achieve those goals. At the same time, we are focused on the stations staying in mission format. We are happy to be working with our good friends at EMF to continue impacting lives through music. We are grateful for our staff at these stations that have worked tirelessly over the years. With this change, Mike Blakemore, Salem’s VP of CCM programming, will provide focus and leadership to programming TCM, which remains an important part of Salem’s content offerings.”
