“Salem rarely leaves a market.”
Those were the words spoken by Salem Media Group CEO Ed Atsinger in late 2016, when the company — with its stock in the low-$6 range — agreed to transfer the operation of its three Louisville, Ky., stations to Word Broadcasting Network under a Local Marketing Agreement.
Thirty-seven months later, the Word is the bird: It’s officially flying away with the three Salem-owned properties, marking another sale of non-essential assets as Salem struggles with stock prices last seen in July 2009 as it prepares to pitch its wares Feb. 17 at Noble Capital Markets’ Sixteenth Annual Institutional Investor Conference at the Hard Rock Hotel and Casino in Hollywood, Fla.
