Salem Media Group Announces the Sale of its Principal Office in Camarillo, CA

Rhea-AI Summary

Salem Media Group announced the sale of its principal office in Camarillo, CA to Eclipse RE Holdings, for $5.5 million, closing on May 1, 2024. Salem will leaseback the building for five years. Salem Media Group is a multimedia company specializing in Christian and conservative content.

CAMARILLO, Calif.--(BUSINESS WIRE)-- Salem Media Group, Inc. (OTCQX: SALM) announced today the sale of its principal office in Camarillo, California to Eclipse RE Holdings, LLC for $5.5 million, closing on May 1, 2024. Salem will leaseback the building for five years, an approximate 41,546 square foot building situated on approximately 121,532 (2.79 acres) square feet of CPD zoned land.

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240510090802/en/

Evan D. Masyr

Executive Vice President and Chief Financial Officer

(805) 384-4512

Source: Salem Media Group, Inc.

FAQ

Who did Salem Media Group sell its principal office in Camarillo to?

Salem Media Group sold its principal office in Camarillo to Eclipse RE Holdings,

How much was the sale of the principal office for?

The sale of the principal office was for $5.5 million.

When did the sale of the principal office close?

The sale of the principal office closed on May 1, 2024.

How long will Salem Media Group leaseback the building for?

Salem Media Group will leaseback the building for five years.

What kind of company is Salem Media Group?

Salem Media Group is a multimedia company specializing in Christian and conservative content.