Salem Media Goes Private as Acquisition by WaterStone Consummated

Salem Media completes its acquisition by The Christian Community Foundation, Inc. which does business as WaterStone. Salem Media now a private company. WaterStone acquired all outstanding shares of Salem Media common stock for $1.00 per share, representing approximately a 250% premium over Salem’s trading price prior to the announcement of the transaction. The companies say, “The partnership brings together two organizations with a shared commitment to Christian ministry and faithful stewardship. As a private company, Salem will continue operating its radio, digital, streaming, podcasting, television and publishing platforms while working with WaterStone to pursue new opportunities for investment and growth.” Salem CEO David Santrella adds, “This is an exciting day for Salem and the beginning of an important new chapter for our company. Salem enters this partnership with strong momentum, an extraordinary portfolio of talent and brands, and more ways than ever to reach audiences across the country. With WaterStone alongside us, we are positioned to invest for the future while remaining firmly committed to the mission that has guided this company from the very beginning.”