Salem Communications has purchased its first property in South Florida, grabbing WKAT (Classical 1360)/Miami from Spanish Media Broadcasting for $10 million. While it was not immediately known what Salem will do with the station, which enjoys a strong 5kw daytime signal and broadcasts with 1kw at night, the company is expected to change WKAT's format. Salem President/CEO Ed Atsinger said, "We are pleased to enter the growing and robust Miami market. With this acquisition, Salem will have a presence in all of the top 20 radio markets." Classical 1360 Managing Director Christopher Korge added, "We felt that it would best serve the long-term interests of our community if we were to place the station in the hands of one of America's most professional, strongest radio broadcasters. Salem is well known and widely respected for the high degree of professionalism they bring to the operation of their stations. We have every confidence that Salem will provide a high-quality radio service for South Florida."

 

http://www.radioandrecords.com/Newsroom/20...13/topstory.asp

 

I think there are 2 ways this will go...here are examples from 2 Salem stations:

a) "The Word" Tampa Bay's 570 & 910 AM

b) "The Patriot" Jacksonville's 1320 AM

 

So it's either Jesus radio or Conservatalk. The good news is that it will put more refreshing points of view out there. Bad news is WLRN will be back as the lone classical music outlet for the masses.

Salem Communications to Acquire WKAT-AM, Miami, FL; First-Ever Miami Presence for Growing Radio Broadcaster

 

CAMARILLO, Calif.--(BUSINESS WIRE)--Oct. 13, 2004--Salem Communications Corporation (Nasdaq:SALM), the leading radio broadcaster focused on religious and family themes programming, today announced that it will be acquiring WKAT-AM (1360 AM), Miami, FL, from Classical 1360, LLC, for a purchase price of $10 million.

 

Edward G. Atsinger III, President and CEO, commented, "We are pleased to enter the growing and robust Miami market. With this acquisition, Salem Communications will have a presence in all of the top 20 radio markets."

 

Christopher Korge, Managing Director of Classical 1360, LLC, stated: "We felt that it would best serve the long-term interests of our community if we were to place the station in the hands of one of America's most professional, strongest radio broadcasters. Salem is well known and widely respected for the high degree of professionalism they bring to the operation of their stations. We have every confidence that Salem will provide a high-quality radio service for South Florida."

 

About Salem Communications

 

Salem Communications Corporation, headquartered in Camarillo, California, is the leading U.S. radio broadcaster focused on religious and family themes programming. Upon the close of all announced acquisitions, the company will own 101 radio stations, including 62 stations in 23 of the top 25 markets, mainly comprising three primary formats: Christian Talk & Teaching; News/Talk; and Contemporary Christian Music. In addition to its radio properties, Salem owns Salem Radio Network, which syndicates talk, news and music programming to over 1,600 affiliated radio stations; Salem Radio Representatives, a national sales force; Salem Web Network, the leading Internet provider of Christian content and online streaming; and Salem Publishing, a leading publisher of Christian themed magazines. For more information, visit Salem Communications' web site at 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 recently launched music formats, competition in the radio broadcast, Internet and publishing industries and from new technologies, adverse economic conditions, and other risks and uncertainties detailed from time to time in Salem's periodic reports on Forms 10-K, 10-Q, 8-K and other filings filed with 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

Denise Davis, 805-384-4508

DeniseD@salem.cc

 

SOURCE: Salem Communications Corporation

Beinfest4Prez....

 

This should make you understand why I told you that Jesus radio or another conservative talk station may be coming to 1360. I thought it would either be Salem or Clear Channel...Salem won.

Add this station to the running for sports rights in Miami. Salem is sports-friendly as they consider themselves to be "family" radio.

Posted on Fri, Oct. 15, 2004

 

 

 

 

RADIO STATIONS

 

 

WKAT changes owners, maybe music

 

South Florida may again be left without a classical radio station. WKAT-AM 1360 has been sold to a California religious broadcaster.

 

BY CHRISTINA HOAG

 

choag@herald.com

 

 

A California religious broadcaster has bought Miami radio station WKAT-AM 1360 for $10 million, a deal that could again leave South Florida without classical music on its airwaves.

 

WKAT General Manager Andrew Korge said the station had been struggling for some time after failing to muster interest from advertisers, arts benefactors and banks.

 

He and his two partners in the ownership group, Classical 1360, brother Christopher Korge and Spanish-language sportscaster Andr?s Cantor, were forced to sell the station in order to make a $5 million payment on it by the year's end.

 

''It's sad,'' Andrew Korge said. ``We have a core of listeners very devoted to this station, but it just wasn't enough. We were very disappointed with the support from the community.''

 

Salem Communications, which owns 101 radio stations, will likely take over WKAT in January, Korge said.

 

It is still unknown whether Salem will convert the station to one of its three hallmark formats: Christian talk and teaching, conservative news/talk and contemporary Christian music.

 

''We haven't made a decision yet,'' said company spokeswoman Denise Davis. ``It's a very strong station. Miami is a wonderful market, and we do not have a station there at this point.''

 

Radio industry analyst Tom Taylor noted that Salem changed the programming on three recently acquired stations in Philadelphia, Detroit and Chicago.

 

Korge said Salem indicated that it would study the market and decide what format would best suit WKAT. ''We hope and pray it will stay classical,'' he said.

 

As a radio format, classical music has had a recent rocky period in South Florida. Before WKAT, WTMI-FM 93.1 aired classical music for three decades until it swapped Telemann for techno and became WPYM Party 93 in January 2002. The new format rocketed to the top of the ratings heap.

 

Nine months later, to much applause from the arts community, Classical 1360 stepped into the void. However, its fare of local concerts, operas from the Met and symphonies did not attract top ratings or financial wherewithal.

 

WKAT will put Salem stations in the country's top 20 markets. The company also publishes Christian magazines and websites and syndicates radio programming.

:spam