As part of its third quarter earnings report, Salem Media Group has announced the pending sale of its AM tower site in Sarasota FL for $9.5 million.
The sale of the approximately 30 acre tract that currently houses the four tower array of Conservative Talk “930 The Answer” WLSS Sarasota would exceed the $6.775 million that the company just received for its three FMs in Greenville/Spartanburg FL. The deal continues Salem’s recent divestitures that also included the sale of its church products division to Gloo LLC for $30 million and 910 WTWD Plant City/102.1 W271CY Lakeland FL to Solmart Media for $700,000 during the quarter.
The buyer of the land is unknown, however a sales kit from real estate broker Cushman & Wakefield notes the land is available as a “single family residential development opportunity in the rapidly growing Lakewood Ranch community in Sarasota County”. The sale is contingent on getting the property rezoned, and the company expects to close the sale in late 2024.
