Salem Communications Corporation, the leading provider of Christian-oriented radio, electronic and printed resources, announced today that it has signed a definitive agreement with Clear Channel Communications to acquire radio stations KEZY(AM) and KXMX(FM) in Los Angeles, California; KDGE(FM) in Dallas, Texas; KALC(FM) in Denver, Colorado; WKNR(AM) and WRMR(AM) in Cleveland, Ohio; and WBOB(AM) and WYGY(FM) in Cincinnati, Ohio. Salem will pay $185.6 million in cash for the stations.
Salem Communications Corporations is headquartered in Camarillo, California. Upon the close of all announced transactions, the company will own and/or operate 70 radio stations, including 52 stations in the top 25 markets. In addition to its radio properties, Salem owns the Salem Radio Network, which syndicates talk programming, news and music to more than 1,300 affiliated radio stations throughout the United States; OnePlace, Ltd., a technology company which operates the Christian web portal OnePlace.com; and CCM Communications, the leading publisher of contemporary Christian music trade and consumer publications.