Salem Communications Announces Acquisition of Atlanta Radio Station

Salem Communications Corporation, the leading radio broadcaster focused on religious and family themes programming, announced it will be acquiring WAFS-AM (920 AM) in Atlanta, Georgia, from Moody Bible Institute for approximately $16.4 million. WAFS-AM is programmed in a predominantly Christian teaching/talk format.

Edward G. Atsinger III, President and CEO, commented, "Atlanta continues to be perceived by the radio broadcast industry as one of the most attractive radio markets in the country. The opportunity to acquire a strong coverage station on either band -- AM or FM -- has been extremely rare. WAFS-AM is an excellent facility with a good quality signal both day and night. This station represents a substantial opportunity for Salem."

Currently Salem Communications Corporation headquartered in Camarillo, California. The company owns and operates 92 radio stations, mainly composed of three primary formats: Christian Teaching and Talk, featuring well-known speakers such as James Dobson, Janet Parshall, Charles Stanley and Chuck Swindoll; Conservative News/Talk; and Contemporary Christian Music.

In addition to its radio properties, Salem owns the Salem Radio Network, which syndicates talk, news and music programming to over 1,600 affiliated radio stations; Salem Radio Representatives, a national sales organization; Salem Web Network, the leading Internet provider of Christian content and online streaming; and Salem Publishing, a Christian magazine publisher.

The audience for religious and family themes content is large and it will continue to expand. Religious formats constitute the third largest radio format in the United States. Currently, over 2,000 radio stations are identified as having primarily a religious format. Approximately 52% of Americans been identified as listeners to religious formatted radio.

For more information, visit Salem Communications' web site at www.Salem.cc.