As 2024 came to a close, RBR+TVBR shared the details about how Colorado Springs-headquartered Waterstone has emerged as a major shareholder of publicly traded Salem Media Group. Now, paperwork has been filed with the Commission seeking its approval of an arrangement that sees Waterstone gain some $40 million worth of preferred shares in the media company focused on secular and non-secular spoken word programming.
A series of LMS filings made late Tuesday show that the shareholders of Salem seek approval of a major change of interest.
With the FCC’s OK, Edward G. Atsinger III would see his percentage of votes in Salem reduced from 41.33% to 22.54%.
At the same time, Stuart Epperson Jr.‘s percentage of votes in Salem would decline from 36.12% to 20.51%.
Gaining majority control with 46% percent of voting interest in Salem is Waterstone.
With Kathleen Kirby of Wiley Law representing Salem in front of the FCC, transfer of control filings were made for a group of stations in the Miami market licensed to “Hispanos Communications LLC.” In Seattle, KKOL-AM and KGNW-AM, along with FM translator K281CQ, are being transferred via “Inspiration Media Inc.”
Concurrently, two AMs, two FMs and two FM translators under the licensee name “Bison Media, Inc.,” are involved in the ownership shift. So are a group of California stations held by “New Inspiration Broadcasting Company Inc.” and those under “Salem Communications Holding Corporation.
Lastly, three Denver AMs and KRKS-FM in Lafayette, Colo., licensed to “Salem Media of Colorado,” are involved in the change of control request.
