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.
Salem says the purchase price represents a 250% premium over its closing price today of 40 cents per share. The companies have worked together on multiple strategic initiatives over the past eighteen months with WaterStone taking a 49.5% voting interest in Salem through preferred stock investments that included the repurchasing $40 million of Salem’s debt announced simultaneously with the sale of its Christian AC stations to K-Love Inc. at the end of 2024.
Waterstone, founded in 1980, is a Christian philanthropic advisory firm to assist wealthy donors maximize both their giving and their tax benefits.
Salem co-founder Edward Atsinger III said, “For the last ten years the Atsinger and Epperson families have been looking for a successor that would continue to carry the torch of delivering quality Christian and conservative media into the next generation and beyond. When we met with WaterStone, some 24 months ago, we believed it was a divine appointment. WaterStone is deeply aligned with the vision we had when our families founded this company.”
CEO David Santrella commented, “WaterStone understands who we are and why Salem has mattered for over 50 years This partnership will accelerate our ability to expand the reach of our mission for years to come.”
WaterSton President and Salem Chairman Richard von Gnechten said, “This is about building on what makes Salem unique. Salem has spent decades earning the trust of listeners, ministries, advertisers, and audiences by staying true to its mission. WaterStone believes deeply in that mission and in the people behind it. This partnership gives Salem additional strength and long-term stability while creating new opportunities to expand its reach for the future – which is why we are making this investment.”
The deal has already been approved by Salem’s Board of Directors and is expected to close in August 2026, subject to shareholder and regulatory approvals.
