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

Connoisseur to Sell WQCM to Family Life Ministries

WQCM-FM/Hagerstown-Chambersburg

Connoisseur Media has reached an agreement to sell WQCM-FM, licensed to Greencastle, PA and serving the Hagerstown-Chambersburg market, to Family Life Ministries. The transaction is subject to FCC approval and is expected to close during the fourth quarter. Financial terms were not More

NAB Opens Entries for 2027 Crystal Radio Awards

NAB Crystal Radio Awards

The National Association of Broadcasters (NAB) has opened the entry window for the 41st annual NAB Crystal Radio Awards, recognizing radio stations for outstanding community service. The 2027 awards will honor community service efforts conducted between October 1, 2025 and September More

Study: Hispanic Radio Listeners Show Deep Loyalty

Katz Multicultural Resources

Hispanic radio listeners maintain strong, long-term relationships with their favorite stations, with music, personalities and cultural connection helping drive that loyalty, according to new research from Katz Multicultural Resources. The study found more than eight in ten More

Townsquare Ignite Partners With Lakes Media Network

Townsquare Media

Townsquare Media has entered into a strategic digital advertising partnership with Lakes Media Network, which operates six radio brands serving Southside Virginia and Northern North Carolina. Under the agreement, Lakes Media's sales team will gain access to Townsquare More

K-Love Closes on WNKS and KXTE Acquisitions

K-Love

K-Love Inc. has closed on its acquisition of WNKS-FM in Charlotte and KXTE-FM in the Las Vegas market from Beasley Media Group Licenses. The closing completes a transaction first announced in August. Financial terms were not disclosed. Kalil & Co. served as the exclusive broker. WNKS operates on 95.1 MHz More

Scott Spezzano to Retire After 50 Years in Radio

Scott Spezzano

Longtime Rochester radio personality Scott Spezzano will retire from WBZA (98.9 The Buzz) at the end of the year, concluding a 50-year broadcasting career. Spezzano announced Thursday that his final appearance as co-host of "The Breakfast Buzz" will be December 18, a date that coincides with the 50th 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 ^®