Salem Media Group has completed its sale to WaterStone, taking the Christian and conservative media company private and ending its run as a publicly traded company after more than five decades.
WaterStone acquired all outstanding shares of Salem Media common stock for $1 per share. Salem said the deal represented about a 250 percent premium over the company’s trading price before the transaction was announced in May.
The company said it will continue operating its radio, digital, streaming, podcasting, television and publishing platforms while working with WaterStone on new investment and growth opportunities.