On Thursday evening, WHK aired a pre-recorded announcement that sounded like a legal notice about Salem media doing something with the station going to another entity. I'm sorry I can't give more detail as I only heard this once, so far.
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Salem leaving WHK
- Thread starter johnbasalla
- Start date
Does it have to to with the WaterStone purchase of Salem Media?
Salem has been sold to a Christian investment company called WaterStone. They are buying all of the stock and taking the company private:
WaterStone To Acquire & Take Salem Media Private
The Christian Community Foundation Inc. d/b/a/ WaterStone has announced it will purchase Salem Media Inc. and take the company private in a deal valued at $1 per share.
radioinsight.com
As a result, the Salem stations have filed change of ownership paperwork with the FCC.
What Salem Media's Future Looks Like Following Acquisition By WaterStone
Instead of making decisions about what'll benefit the quarterly earnings, Salem's leadership gets to make decisions about what's best for the content, the company, and the people it serves. That's a meaningful shift.
barrettmedia.com
Thanks for reminding me. I do recall hearing the WaterStone name.
Have they? As I posted on the Salem/WaterStone thread in the General Radio Topics board, some Salem stations have filed a Transfer of Control application, while others have not. Here in Houston neither KKHT nor KNTH have filed a TOC. In some markets one Salem station has filed, but not the other. Odd.
Not every station has to file a separate transfer of control. Just one for each license holding company.
Read the story that @TheBigA shared. Salem as a company is being absorbed.
Thanks for that clarification, I never got an answer on the other thread. Figured it might have to do with the intermediate holding entities.
Still curious how WaterStone will handle its new acquisitions. I don’t see them simply continuing business as usual with the radio properties if they want to make a greater impact.
Not absorbed. Assimilated.
So.....do all the "suckers" that gave them money.....are they going to get that back? I'm sure they want Salem to have it, not some private equity firm of God, Inc.
Not absorbed. Assimilated.
Resistance is futile
Gave money to whom? Salem? Seculow/ACLJ?
All the listeners that were begged [ordered] to donate to SALEM to keep them on the air only to have a company come in and take them private. I can't believe they were bought for only $1.00 a share! I would have thought they'd go for more than that.
Really? It’s been mostly under a dollar for quite sometime.
I guess ALL radio stocks are in pretty sad shape.
Waterstone is an investment company with the stated purpose of helping people donate large amounts of money into tax advantaged investments in companies and organizations that promote traditional Christian values.
I suspect one of the changes they might make would be to take the Salem stations and change them to non profits.
I can see that the preaching stations, The Word, fit their criteria. The talk network and stations, The Answer, might be different. It is with the preaching stations Salem made their initial money and later entered the conservative talk arena.
I suspect one of the changes they might make would be to take the Salem stations and change them to non profits.
I can see that the preaching stations, The Word, fit their criteria. The talk network and stations, The Answer, might be different. It is with the preaching stations Salem made their initial money and later entered the conservative talk arena.