WaterStone completes privatization of Salem Media Group

The Christian Community Foundation, Inc., operating as WaterStone, has completed its acquisition of Salem Media Group, taking the company private. WaterStone acquired all outstanding shares of Salem Media common stock at $1.00 per share, which represents a premium of approximately 250% over the trading price prior to the transaction announcement.

As a private entity, Salem Media will continue to operate its various radio, digital, streaming, podcasting, television, and publishing platforms. The partnership aims to focus on long-term growth and expanding its Christian and conservative media mission. Salem CEO David Santrella stated that the partnership positions the company to invest in the future while remaining committed to its original mission.