UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of
Report (Date of earliest event reported): October 18, 2007
SALEM
COMMUNICATIONS CORPORATION
(Exact
Name of Registrant as Specified in its Charter)
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Delaware
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000-26497
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77-0121400
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(State
or Other Jurisdiction
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(Commission
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(IRS
Employer
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of
Incorporation)
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File
Number)
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Identification
No.)
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4880
Santa Rosa Road, Camarillo, California
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93012
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (805) 987-0400
Not
Applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ]Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ]Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ]Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[ ]Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
TABLE
OF CONTENTS
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ITEM
8.01
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Other
Events.
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On
October 18, 2007, Salem Communications Corporation issued a press release
regarding its agreement to purchase radio station WTPS-AM 1080, in Miami,
Florida from Radio One, Inc. for $12.25 million.
ITEM
9.01 Financial
Statements and Exhibits.
(c) Exhibits. The
following exhibit is furnished with this report on Form 8-K:
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Exhibit
No.
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Description
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99.1
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Press
release, dated October 18, 2007, of Salem Communications Corporation
regarding an agreement to purchase radio station WTPS-AM 1080, Miami,
Florida.
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Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
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SALEM
COMMUNICATIONS CORPORATION
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Date:
October 19, 2007
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By:
/s/ EVAN D. MASYR
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Evan
D. Masyr
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Senior
Vice President and Chief Financial
Officer
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Exhibit
No.
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Description
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99.1
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Press
release, dated October 18, 2007, of Salem Communications Corporation
regarding an agreement to purchase radio station WTPS-AM 1080, Miami,
Florida.
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EXHIBIT
99.1
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Salem
Communications to Acquire WTPS-AM in Miami,
Florida
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CAMARILLO,
Calif.--(BUSINESS WIRE)--Oct. 18, 2007--Salem Communications Corporation
(Nasdaq:SALM), a leading U.S. radio broadcaster, Internet content
provider, magazine and book publisher targeting audiences interested
in
Christian and family-themed content and conservative values, today
announced that it will acquire WTPS-AM in Miami, FL, for approximately
$12.25 million. Additionally, Salem began operating the station today
under a local marketing agreement.
Joe
D. Davis, Division President, Radio, commented, "The programmers
who have
been heard on our WKAT-AM 1360 will now have a new and expanded home
at
1080AM, and the coverage of this new 50,000 watt signal is enormous,
reaching from the Florida Keys to Boca Raton. Our new call letters
on 1080
will be WMCU, acknowledging the heritage of great Christian programming
in
south Florida. Miami is the 11th largest radio market in the United
States, and we are pleased to serve the large number of people there
interested in Christian and family themes."
In
addition to its radio properties, Salem owns Salem Radio Network(R),
which
syndicates talk, news and music programming to approximately 2,000
affiliates; Salem Radio Representatives(TM), a national radio advertising
sales force; Salem Web Network(TM), a leading Internet provider of
Christian content and online streaming; and Salem Publishing(TM),
a
leading publisher of Christian-themed magazines. Upon the close of
all
announced transactions, Salem Communications will own 98 radio stations,
including 59 stations in 22 of the top 25 markets. Additional information
about Salem may be accessed at the company's website,
www.salem.cc.
Forward-Looking
Statements
Statements
used in this press release that relate to future plans, events, financial
results, prospects or performance are forward-looking statements
as
defined under the Private Securities Litigation Reform Act of 1995.
Actual
results may differ materially from those anticipated as a result
of
certain risks and uncertainties, including but not limited to the
ability
of Salem to close and integrate announced transactions, market acceptance
of Salem's radio station formats, competition from new technologies,
adverse economic conditions, and other risks and uncertainties detailed
from time to time in Salem's reports on Forms 10-K, 10-Q, 8-K and
other
filings filed with or furnished to the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. Salem undertakes
no
obligation to update or revise any forward-looking statements to
reflect
new information, changed circumstances or unanticipated
events.
CONTACT:
Salem Communications Corporation
Elizabeth
Stewart, 805-987-0400 ext 1065
Elizabeth.Stewart@salem.cc
SOURCE:
Salem Communications
Corporation
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