SMG Closes Refinancing of $112.8M of Senior Secured Notes

Salem Media Group

Salem Media Group has closed the refinancing of $112.8 million of its senior secured notes due 2024 by way of exchange and/or sale and purchase of $112.8 of 2024 Notes into $114.7 of newly issued 7.125% Senior Secured Notes due 2028. After the refinancing, only $103.5 million of the 2024 Notes remain outstanding.

Originating during the same time with the refinancing, Salem has obtained commitments from the holders of the 2028 Notes to purchase up to $50 million in additional 2028 Notes, contingent upon Salem satisfying certain performance benchmarks, the proceeds of which are to be used to repurchase or repay 2024 Notes.

"With this refinancing and our expected future free cash flow generation, we believe Salem has a clear path to ultimately push out all of the rest of our outstanding debt maturities. It also provides flexibility to opportunistically invest in our business," stated SMG CEO Edward G. Atsinger III.

Latest Radio Stories

Glenn Marshall Joins WBBM Chicago as Evening Anchor

Glenn Marshall

Audacy appoints Emmy-nominated journalist Glenn Marshall as the new evening anchor and reporter for WBBM (Newsradio 780 AM/105.9 FM) in Chicago. "Glenn's combination of experience, authenticity and professionalism will immediately strengthen our afternoon reporting and bring a recognizable, trusted voice More

Cumulus Names Jeremy Price to Lead Stockton-Modesto

Jeremy Price

Cumulus Media has appointed veteran sales and management executive Jeremy Price as Vice President/Market Manager for its six-station cluster in Stockton-Modesto, CA. Price steps into the role with more than two decades of experience overseeing radio and digital operations across California markets. Price More

Edison Q3: AM/FM Radio Leads Ad-Supported Audio

Edison Research

Edison Research's latest "Share of Ear" study shows AM/FM radio remains the dominant force in ad-supported audio, holding a 64% share in Q3 2025 -- far surpassing all other platforms. The quarterly report, summarized this week on the Cumulus Media | Audio Active Group blog, highlights how traditional radio More

Golden Globes Reveal First-Ever Best Podcast Nominees

Golden Globes

The Golden Globes unveiled the nominees for the 83rd Annual Golden Globes, announcing the first-ever slate for Best Podcast during a press conference at the Beverly Hilton. Marlon Wayans and Skye P. Marshall presented nominees across all 28 categories. The ceremony airs live More

Podtrac Publishes November 2025 Podcast Rankings

Podtrac

Podtrac has released its Top US and Global Publishers & Networks and Top US Podcast rankings for November 2025, highlighting steady audience gains for several leading podcast companies. The new data shows that three U.S. publishers measured in the rankings grew their Unique Monthly Audience compared to More

NAB's Henry Hinton to Testify Against Radio Royalties

Henry Hinton

NAB Radio Board Director Henry Hinton, president of Inner Banks Media, will testify Tuesday before the U.S. Senate Judiciary Committee's Subcommittee on Intellectual Property at a hearing examining how proposed changes to music licensing laws could affect local radio, artists and the public. The hearing, More

Return to Menu

SMG Closes Refinancing of $112.8M of Senior Secured Notes

Latest Radio Stories

Follow us on:

Copyright © 1989-2025 RADIO ONLINE ^®

SMG Closes Refinancing of $112.8M of Senior Secured Notes

Latest Radio Stories

Follow us on:

Copyright © 1989-2025 RADIO ONLINE ®

Copyright © 1989-2025 RADIO ONLINE ^®