Salem Media has completed its acquisition by The Christian Community Foundation, Inc., doing business as WaterStone, taking the Christian and conservative media company private. WaterStone acquired all outstanding shares of Salem Media common stock for $1 per share, representing approximately a 250% premium to Salem's trading price before the transaction was announced.
Salem said the deal begins a new chapter focused on long-term growth while maintaining the company's Christian and conservative media mission. The company will continue operating its radio, digital, streaming, podcasting, television and publishing businesses.
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