Salem Media Group, Inc. completed the acquisition of Assets of WMYM AM 990 and FM 98.7 in Miami from Actualidad Media Group LLC for $3.2 million.
January 06, 2023
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Salem Media Group, Inc. (NasdaqGM:SALM) has entered into an Asset Purchase Agreement to acquire Assets of WMYM AM 990 and FM 98.7 in Miami from Actualidad Media Group LLC for $5 million on September 29, 2022. Actualidad will continue to own and operate other South Florida stations, WURN AM 1040, translator FM 103.9 ?Actualidad Radio? (Spanish News/Talk) and WURN FM 107.1 ?Exitos? (Spanish Contemporary Music) and WLVJ AM 1020. The transaction has been filed with the FCC is subject to the approval of the FCC and both parties anticipate closing around the beginning of 2023. The transaction is expected to close in the fourth quarter of 2022.
Salem Media Group, Inc. (NasdaqGM:SALM) completed the acquisition of Assets of WMYM AM 990 and FM 98.7 in Miami from Actualidad Media Group LLC for $3.2 million on January 6, 2023. The APA was amended for Salem to acquire only the radio station and translator for $3.2 million, a related party to acquire the land directly from the seller for $1.8 million, and Salem to have an option to purchase the land from the related party pursuant to an option to purchase real estate agreement.
Salem Media Group, Inc. is a domestic multimedia company specializing in Christian and conservative content, with media properties comprising radio broadcasting, digital media, and publishing. Its segments include Broadcast, Digital Media and Publishing. The Broadcast segment is engaged in the business of radio broadcasting, which includes the ownership and operation of radio stations in metropolitan markets. The Digital Media segment provides Christian, conservative, investing content, audio and video streaming, and other resources digitally through the Web. It operates two businesses in its book publishing segment: Regnery Publishing and Salem Author Services. Regnery Publishing is a traditional book publisher. The books are sold in traditional printed form and as eBooks, such as Regnery Political, Regnery History, Regnery Kids, Gateway Editions and Salem Books. Salem Author Services is a self-publishing service for authors through two imprints: Xulon Press and Mill City Press.
SALEM MEDIA GROUP, INC. 
