Salem Media Works With a New Investor - Inside The Valley

Salem Media Works With a New Investor - Inside The Valley

In an effort to improve its balance sheet and reduce its debt, Camarillo-based conservative content distributor Salem Media Group Inc. recently completed three transactions. The company said in a release from Dec. 30 that it had repurchased all $159 million of its outstanding senior secured notes due in 2028; issued $40 million of a series of convertible preferred stock; and agreed to sell seven radio stations and enter into a marketing agreemen…