Salem Buys WTLN-AM and WHIM-AM
10-20-05
Salem
Communications Corporation, the leading radio broadcaster focused on
Christian and family-themed programming, today announced that it will acquire WTLN-AM
950 and WHIM-AM 1520, which serve
the greater Orlando market, from Alton Rainbow Corporation
and TM2, Inc., for approximately $10 million. The transaction is subject
to required regulatory approvals and other closing conditions and is expected to
close in the first quarter of 2006. Last month, Salem announced that it
would acquire Orlando station WORL-AM 660,
which will be programmed in its successful News Talk format. Edward G. Atsinger III, president and CEO of
Salem Communications,
commented, "These are two heritage stations that have been in the Christian
teaching and talk format for many years. The Moffits are respected
broadcasters who have provided a platform in Orlando to some of the best
national ministries and speakers, a tradition we plan to continue. This
transaction strengthens Salem's position in one of the nation's top markets
allowing us to broadcast two of our three strategic formats in Orlando."
|