Salem Media Group has entered into new business relationships with Donald Trump Jr. and Lara Trump, including acquiring a 30% equity stake in the MxM News app co-owned by Mr. Trump Jr. The mobile news aggregation platform will become part of Salem’s digital portfolio as part of a broader strategy to expand its reach across broadcast, podcast, streaming and digital platforms.
The agreement includes a long-term services arrangement under which Mr. Trump Jr. and Salem will jointly develop promotional and growth initiatives. As part of the deal, Mr. Trump Jr. becomes a shareholder in Salem Media Group.
Separately, Lara Trump has renewed her exclusive podcast agreement with Salem and will continue to produce and host her show for the Salem Podcast Network. She has also signed a new strategic agreement with the company to collaborate on digital growth initiatives, advertiser partnerships and content development. Ms. Trump has also taken an ownership stake in the company.
Salem Media Group President and CEO David Santrella said, “Donald Trump Jr. and Lara Trump aren’t just becoming business partners with Salem; they now also have significant ownership stakes in the company with a major incentive to grow shareholder value, which in turn will drive the stock price.”
Salem recently announced that it has eliminated its long-term corporate debt.
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