Salem Media Group has entered into an agreement to be acquired by The Christian Community Foundation, operating as WaterStone, in a deal that would take the company private.
Under the agreement, WaterStone will acquire all outstanding shares of Salem Media common stock for US$1.00 per share. The transaction is expected to close in August 2026, subject to shareholder and regulatory approvals. Salem Media said the acquisition is intended to support the company’s long-term operations across radio, streaming, podcasting, digital media, television and publishing.
Edward Atsinger III, Salem co-founder and board member, said the company had spent several years seeking a long-term successor aligned with its mission.
According to Salem Media, the company reported local radio revenue growth of 2.8% in the first quarter, excluding stations recently sold. The company cited data from Miller Kaplan showing broader industry advertising revenue declined by 3.4% during the same period.
David Santrella, CEO at Salem Media, said WaterStone shares the company’s long-term goals. “WaterStone understands who we are and why Salem has mattered for over 50 years,” Santrella said. “This partnership will accelerate our ability to expand the reach of our mission for years to come.”
Richard von Gnechten, chairman of Salem Media’s board of directors and president at WaterStone, said the agreement is intended to provide long-term operational stability for the company. “This is about building on what makes Salem unique,” von Gnechten said.
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