Christian/conservative multimedia company Salem Media has completed its acquisition by WaterStone (also known as The Christian Community Foundation). The takeover was announced in May.
The buyout price was one dollar per share. Low as that sounds, it is a 250% premium over Salem’s public trading price.
Withdrawal from public trading notwithstanding, Salem will continue operations across all its active sectors, including radio, digital, streaming, podcasting, television, and publishing. David Santrella remains CEO, continuing a 45-year career in radio. He has been with Salem since 2001 in a range of executive roles. Before Salem, Santrella held executive roles at NBC and CBS Radio.