Salem Media Group Inc. completed its transition to private ownership on Wednesday after The Christian Community Foundation, operating as WaterStone, acquired all outstanding shares at $1.00 each.
The deal, which values the company at approximately $100 million based on outstanding share count, represents a roughly 250% premium over Salem’s closing price prior to the transaction announcement. The Camarillo, California-based media group operates radio, digital, streaming, podcasting, television and publishing platforms focused on Christian and conservative content.
Salem’s programming roster includes prominent Christian broadcasters such as Focus on the Family with Jim Daly, John MacArthur, Chuck Swindoll, David Jeremiah, Alistair Begg and Allen Jackson, alongside conservative voices including Scott Jennings, Larry O’Connor, Alex Marlow, Mike Gallagher, Hugh Hewitt and Lara Trump.
David Santrella, Salem’s CEO, said the company enters this partnership with strong momentum and a robust portfolio of talent and brands. Richard von Gnechten, president of WaterStone and chairman of Salem’s board, stated the acquisition aims to provide a foundation for expanding existing operations.
Founded over 50 years ago by Edward Atsinger III—who remains a board member—and Stuart Epperson, Salem Media has grown into a diversified media enterprise. WaterStone, the acquiring foundation, provides charitable giving services to individuals and families, according to its description.
The transaction removes Salem from public markets, transitioning it to private ownership under WaterStone’s stewardship.
