Salem Media Stock Price, News & Analysis

Salem Media Group (OTCQX: SALM) has transferred ownership of its Today's Christian Music and Today's Worship Music networks to Christian FM Media Group. The transfer, effective February 1, follows Salem's recent divestiture of Contemporary Christian Music stations. Christian FM Media has assumed network operations, ensuring continuous programming services for all Salem Music affiliates.

The networks will continue to operate independently, maintaining market exclusivity agreements. Jayme Summers, former Program Director and Operations Manager for Salem Music Networks, has joined Christian FM in the same role. Christian FM plans to implement new delivery technology, offering greater music flexibility and more personality choices to affiliated stations.

Salem Media Group (OTCQX: SALM) has announced the appointment of Richard von Gnechten and Jim Renacci to its Board of Directors, effective January 7, 2025. Both appointees will stand for election at the 2025 Annual Meeting of Stockholders.

Von Gnechten, currently WaterStone's Chief Operating Officer and Chief Gift Strategist, brings nearly three decades of senior financial executive experience. His background includes growing assets under management from $400 million to $1.2 billion as CFO/COO for a registered investment advisor, and serving as CFO for a $2 billion NYSE-listed company.

Renacci, a former U.S. Congressman who served on key committees including Ways and Means and Financial Services, brings 30 years of business experience. He has owned and operated over 60 entities, created more than 1,500 jobs, and has extensive experience in healthcare management, mergers & acquisitions, and various business sectors.

Salem Media Group (OTCQX: SALM) has announced the addition of Your Nightly Prayer podcast to its LifeAudio platform. Created by the Crosswalk.com team, the podcast offers nightly devotionals and prayers aimed at helping Christians end their day in spiritual reflection.

LifeAudio, part of Salem Web Network's 20-year legacy in Christian media, provides faith-based content through various podcasts covering topics from devotionals and prayer to family life and personal development. This new addition aligns with LifeAudio's mission to deliver faith on demand content to its growing Christian audience.

Salem Media Group continues to expand its position as America's leading multimedia company specializing in Christian and conservative content, serving millions of listeners, readers, and viewers nationally through radio, digital media, and book and newsletter publishing.

Salem Media Group (OTCQX: SALM) has announced the promotion of Laura Sheaffer to General Manager of WNYM-AM 970 the Answer, WMCA-AM 570 The Mission, and Salem Surround in New York. Sheaffer, who has served in various capacities in the New York market for the past ten years, most recently as General Sales Manager, succeeds Jerry Crowley who held the position for twelve years.

Senior Vice President Jeff Reisman praised Sheaffer's proven track record, competitive spirit, and leadership abilities. Sheaffer expressed her commitment to building upon the established momentum and leading the stations and streaming platforms to new heights. Salem Media Group operates as America's leading multimedia company specializing in Christian and conservative content, with properties spanning radio, digital media, and book and newsletter publishing.

Salem Media Group (OTCQX: SALM) has appointed Brad Parscale as Chief Strategy Officer. Parscale, known for his role as Digital & Media Director in Donald Trump's 2016 campaign and Campaign Manager in 2020, brings extensive experience in digital marketing and online strategy. His platforms, Campaign Nucleus and EyesOver, were key to Trump's 2024 presidential victory.

In his new role, Parscale will contribute his expertise in digital initiatives, technical insight, and political experience to Salem's mission. CEO David Santrella expressed enthusiasm about Parscale's appointment, citing his digital marketing experience and connections within conservative media. Parscale, who has recently undergone a faith transformation, will focus on expanding distribution channels and implementing new technologies to enhance Salem's content delivery.

Salem Media Group (OTCQX: SALM) has announced major financial restructuring initiatives that will eliminate its long-term debt. The company has repurchased all $159.4 million of its 7.125% Senior Secured Notes at a $37.1 million discount and issued $40 million in new convertible preferred stock. Additionally, SALM has agreed to sell seven radio stations to Educational Media Foundation (EMF) and enter into a marketing agreement for total consideration of $90 million.

The company will issue $24 million in subordinated notes to be later converted into Series A Preferred Stock, and has issued $40 million of Series B Convertible Preferred Stock to WaterStone. The radio station sale is expected to close in first half 2025, with EMF beginning operations around February 1, 2025. SALM has also extended its Asset Based Loan revolving facility with Siena Lending Group for one year.

Salem Media Group (OTCQX: SALM) has announced a multi-year contract extension with Joe Piscopo as morning drive host on AM 970 The Answer in New York City. Piscopo, known for his role on Saturday Night Live (1980-84), has been hosting the weekday show from 6-10am ET since 2014. The show features News Anchor Al Gattullo, Traffic with Debbie DuHaime, and Weather with Stephen Parr.

Salem VP & General Manager Jerry Crowley praised Piscopo's talent and audience connection, while General Sales Manager Laura Sheaffer highlighted strong audience and advertiser response. The company expects continued growth for the show in 2025 and beyond.

Salem Media Group (OTCQX: SALM) announced that its platform SeniorResource.com has published a new guide titled 'Top 99 Best Retirement and Senior Living Resources Near Cleveland' by Jennifer Otto. The comprehensive guide, available on Amazon.com, focuses on helping seniors and caregivers in Cleveland and northeast Ohio find essential resources including housing options, meal services, and assisted living facilities. The author, a northeast Ohio resident and senior advocate, has curated information about local agencies on aging, affordable housing programs, meal delivery services, and retirement communities.

Salem Media Group (OTCQX: SALM) announced significant lineup changes for Salem Radio Network (SRN) and Salem News Channel (SNC) effective January 13th. Hugh Hewitt will move his morning program to afternoons (3-6pm ET), replacing Dr. Sebastian Gorka, who is joining the Trump administration as Deputy Assistant to the President. Chris Stigall, currently hosting mornings in Philadelphia on AM 990, will take over Hewitt's morning slot (6-9am ET) while maintaining his Philadelphia show.

Both shows will be syndicated on SRN and simulcast on SNC, which broadcasts in 56 markets across multiple streaming platforms. Hewitt currently has over 450 affiliates on the Salem Radio Network.