Salem Media Group has sold its seven remaining contemporary Christian music radio stations to the Educational Media Foundation (EMF) for $80 million, pending FCC approval.

The sold stations include:

• KLTY-FM (Arlington, TX)
• WFSH-FM (Athens, GA)
• WFHM-FM (Cleveland, OH)
• KFSH-FM (La Mirada, CA)
• KKFS-FM (Lincoln, CA)
• KBIQ-FM (Manitou Springs, CO)
• KFIS-FM (Scappoose, OR)

EMF plans to implement its K-LOVE or Air1 Worship Now programming on these stations starting February 1, through a local marketing agreement. EMF currently reaches approximately 18 million weekly listeners through over 1,100 broadcast signals nationwide.

The sale is part of Salem Media Group's strategic plan to eliminate long-term debt. Additional financial arrangements include:

• $10 million advertising and marketing agreement with EMF
• Repurchase of $159.4 million in outstanding senior secured notes
• $40 million Series B convertible preferred stock issuance to WaterStone Foundation
• Extension of revolver line of credit with Siena Lending Group

"We have made a strategic decision to exit the contemporary Christian music format to pay off all of Salem's long-term debt," stated Edward G. Atsinger, Salem Media Group's executive chairman and co-founder. "EMF has demonstrated over many years a unique ability and dedication to creating and distributing the highest quality Christian music content to its listeners in a positive and encouraging way."

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