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

FCC, iHeart Reach Deal on Payola Safeguards

Federal Communications Commission

The FCC has reached a consent decree with iHeartMedia resolving an investigation into the company's compliance with federal payola rules, establishing new reporting, training and disclosure requirements aimed at protecting artists from improper pressure tied to radio airplay and live event appearances. More

Nielsen: Radio Continues to Lead Weekly Reach

Katz Radio Group

Radio continues to deliver the broadest weekly audience of any measured media platform, reaching 87% of U.S. adults each week despite growing media fragmentation, according to Katz Radio Group's latest Sound Answers report highlighting Nielsen Audience Insights data for the first More

Seattle Sports Renews WSU Broadcast Partnership

KIRO-AM/Seattle

Washington State University Athletics has entered into a new multi-year partnership with Bonneville Seattle Media Group, restoring 710 KIRO-AM (Seattle Sports) as the Seattle flagship station for Cougar Football and Men's Basketball broadcasts. The agreement expands Washington State's reach throughout More

Connoisseur Names Lorraine Hirsh VP of HR

Lorraine Hirsh

Connoisseur Media has named Lorraine Hirsh as its new Vice President of Human Resources, a newly created position designed to support the company's continued expansion and strengthen its investment in employee development and organizational growth. Hirsh joined the company on June 29 and will oversee More

New Generation Radio Launches Virtual Jingles

Virtual Jingles

New Generation Radio has introduced Virtual Jingles, a new custom jingle and station imaging service designed to provide radio outlets with fresh, customizable branding tailored to today's music formats. Developed under the VirtualJock.com umbrella, the service delivers custom-produced More

CPR Classical Adds Two Host/Producers

Mario Rivas and William Carman

Colorado Public Radio has expanded its CPR Classical team with the addition of Mario Rivas (pictured far left) and William Carman as host/producers. The pair bring complementary backgrounds in filmmaking, music performance, education and community engagement, offering fresh perspectives More

Return to Menu

SMG Closes Refinancing of $112.8M of Senior Secured Notes

Latest Radio Stories

Follow us on:

Copyright © 1989-2026 RADIO ONLINE ^®

SMG Closes Refinancing of $112.8M of Senior Secured Notes

Latest Radio Stories

Follow us on:

Copyright © 1989-2026 RADIO ONLINE ®

Copyright © 1989-2026 RADIO ONLINE ^®