GREEN BAY, Wis., Aug. 15, 2019 /PRNewswire/ -- Relevant Radio® has entered into an agreement with Salem Media Group (NASDAQ: SALM) to purchase nine AM stations and four FM translators in eight markets. Salem Media Group has agreed to sell stations to Relevant Radio in Boston, Atlanta, Houston, Dallas, San Antonio, St. Louis, Denver, and Youngstown for $8,732,125. This transaction, combined with purchases earlier this year of Salem stations in Washington, D.C., Miami, and Tampa, will allow Relevant Radio to expand its reach by an additional 60,000,000 persons.
In total, Relevant Radio is purchasing 14 AM stations and 7 FM translators from Salem for $17,700,000. The addition of these new stations will give Relevant Radio overall coverage of 220,000,000 people in the United States over a network of 163 owned and operated and affiliate stations.
"We are grateful to God and our supporters that we can reach more souls with our inspiring and life-changing programs, spreading a message of hope and peace across America," said Rev. Francis J. Hoffman, Executive Director/CEO of Relevant Radio. "Salem has a well-earned reputation of maintaining their stations in excellent condition and we are fortunate to make this purchase at this time", said Hoffman.
With the purchase of these stations, Relevant Radio will broadcast in all top ten markets, and 22 of the top 25 markets, including New York, Los Angeles, and Chicago. Tom Vorpahl, Chairman of the Board of Directors, said, "It is very humbling and rewarding to experience how powerful the message of the Gospel is and can be to our listeners. We look forward to continuing our Mission of sharing the Truth and Beauty of the Church in these new markets."
Mark Jorgenson of Jorgenson Broadcast Brokerage facilitated the transaction, with Mark Denbo serving Relevant Radio as FCC counsel and Nicolet Bank of Green Bay, Wisconsin providing the financing.
The Relevant Radio schedule of popular programs such as The Patrick Madrid Show, The Drew Mariani Show™, Father Simon Says™, Morning Air®, St. Joseph's Workshop, and Family Rosary Across America®, can be heard on all Relevant Radio stations as well as online at relevantradio.com, on smart speakers, and on the Relevant Radio mobile app.
About Relevant Radio® The Mission of Relevant Radio is to bring Christ to the world through the media. Relevant Radio provides LIVE and interactive programming that brings the Faith into everyday life. By broadcasting coast-to-coast on 163 Owned and Operated and affiliate stations, the network reaches 220 million souls. Programming can also be heard worldwide via streaming audio at www.relevantradio.com and on the free Relevant Radio mobile app. Relevant Radio is faithful to the Magisterium and Catechism of the Catholic Church, united to the Bishops, and under the protective intercession of the Blessed Mother.
For a complete list of Relevant Radio Stations and Affiliates, please visit the website.