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Relevant Radio® has entered into an agreement with Salem Media Group (NASDAQ: SALM) to purchase nine AM stations and four FM translators in eight markets. Salem Media Group has agreed to sell stations to Relevant Radio in Boston, Atlanta, Houston, Dallas, San Antonio, St. Louis, Denver, and Youngstown for $8,732,125. This transaction, combined with purchases earlier this year of Salem stations in Washington, D.C., Miami, and Tampa, will allow Relevant Radio to expand its reach by an additional 60,000,000 persons.
In total, Relevant Radio is purchasing 14 AM stations and 7 FM translators from Salem for $17,700,000. The addition of these new stations will give Relevant Radio overall coverage of 220,000,000 people in the United States over a network of 163 owned and operated and affiliate stations.
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“We are grateful to God and our supporters that we can reach more souls with our inspiring and life-changing programs, spreading a message of hope and peace across America,” said Rev. Francis J. Hoffman, Executive Director/CEO of Relevant Radio. “Salem has a well-earned reputation of maintaining their stations in excellent condition and we are fortunate to make this purchase at this time”, said Hoffman.
With the purchase of these stations, Relevant Radio will broadcast in all top ten markets, and 22 of the top 25 markets, including New York, Los Angeles, and Chicago. Tom Vorpahl, Chairman of...
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