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.”
this deal will “strengthen Salem’s longterm mission across radio, digital media, streaming, podcasting, television, and publishing.” Company co-founder and board member Edward Atsinger III says, “For the last 10 years the Atsinger and Epperson families have been looking for a successor that would continue to carry the torch of delivering quality Christian and conservative media into the next generation and beyond. When we met with WaterStone some 24 months ago we believed it was a divine appointment. WaterStone is deeply aligned with the vision we had when our families founded this company.” Richard von Gnechten is chairman of Salem Media’s board of directors and president of WaterStone. He comments, “This is about building on what makes Salem unique. Salem has spent decades earning the trust of listeners, ministries, advertisers, and audiences by staying true to its mission. WaterStone believes deeply in that mission and in the people behind it. This partnership gives Salem additional strength and longterm stability while creating new opportunities to expand its reach for the future – which is why we are making this investment.” This deal is expected to close in August, subject to shareholder and regulatory approvals.