Salem Media Group has sold its seven remaining contemporary Christian music radio stations to the Educational Media Foundation (EMF) for $80 million. The deal, announced on December 30, is pending FCC approval.

The stations being sold include:

• KLTY-FM (Arlington, TX)
• WFSH-FM (Athens, GA)
• WFHM-FM (Cleveland, OH)
• KFSH-FM (La Mirada, CA)
• KKFS-FM (Lincoln, CA)
• KBIQ-FM (Manitou Springs, CO)
• KFIS-FM (Scappoose, OR)

EMF plans to implement either K-LOVE or Air1 Worship Now programming on these stations starting February 1 through a local marketing agreement, subject to market needs and FCC approval.

Key aspects of the deal:

• Salem Media Group aims to eliminate all long-term debt through this sale
• A $10 million advertising and marketing agreement between Salem and EMF is included
• EMF currently reaches about 18 million weekly listeners through Air1 and K-LOVE networks
• EMF operates over 1,100 broadcast signals across the United States

As part of its financial restructuring, Salem has also:

• Repurchased $159.4 million in outstanding senior secured notes
• Issued $40 million in Series B convertible preferred stock to WaterStone Foundation
• Extended its revolver line of credit with Siena Lending Group

The deal represents a strategic shift for Salem Media Group as it focuses more on talk and information programming, while EMF expands its Christian music broadcasting reach in these markets.

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