Salem Media gets $26 million asset-based revolver via Siena

By Wendy Van Sickle

Columbus, Ohio, Dec. 28 – Salem Media Group, Inc. closed a new $26 million three-year asset-based revolving credit facility with Siena Lending Group, refinancing its prior revolving facility with Wells Fargo Bank, according to a news release.

Obligations under the new revolver are secured by a first-priority lien on the company’s and its subsidiaries’ accounts receivable, inventory, deposit and securities accounts, some real estate and related assets, and a second-priority lien on substantially all other assets of the company and its subsidiaries.

Additional details were not provided in the release.

Salem is a multimedia company based in Camarillo, Calif., that specializes in Christian and conservative content.

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