Salem Communications Corp. Acquires WRMR-AM from Cleveland Classical Radio
July 7, 2004
Salem Communications Corporation (Nasdaq: SALM), the leading radio broadcaster focused on religious and family themes programming, today announced that it will be acquiring WRMR-AM (1420 AM), Cleveland, OH, from Cleveland Classical Radio, LLC. The purchase price is $10 Million.* Beginning Monday, July 12, 2004, the station will broadcast as WHK-AM (1420 AM) News Talk 1420.
Edward G. Atsinger III, President and CEO, commented, _With this acquisition, we now will operate in Cleveland a full cluster of stations in Christian Teaching & Talk, Christian Contemporary Music, News/Talk and Sports. The new WHK-AM will offer listeners a good signal both day and night, further strengthening our presence in another top 25 market, and placing our growing News/Talk platform in 15 of the top 25 markets._
George R. Reed of Media Services Group represented the seller.
* Pending FCC Approval