Salem Media Group Inc. on Aug. 7 disclosed certain acquisitions and divestitures it made from May 30 through July 24.
Salem Media on May 30 received $10,000 for Preaching Magazine and YouthWorker Journal from an undisclosed buyer. The buyer assumed all deferred subscription liabilities for the publications resulting in a pretax gain on the sale or disposal of assets of about $56,000.
The company on June 8 bought Portuguese Bible mobile applications for $65,000 in cash. The company may pay up to an additional $20,000 in contingent earnout consideration over the next 12 months based on the achievement of certain revenue benchmarks. Salem on July 6 also bought TradersCrux.com for $300,000 in cash. The company may also pay the seller a one-time contingent payment of up to $100,000 if certain income goals are met during the one-year following the closing.
Salem on June 28 closed the acquisition of an FM translator construction permit in Festus, Mo., for $40,000 in cash. The company will relocate the FM translator to the St. Louis market for use by its KXFN-FM radio station. On July 24, Salem closed the acquisition of an FM translator construction permit in Eaglemount, Wash., for $40,000 in cash. The FM translator will be relocated to the Portland, Ore., market for use by Salem's KDZR-AM radio station.