{"id":788114,"date":"2023-10-04T13:18:31","date_gmt":"2023-10-04T17:18:31","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/salem-media-group-announces-plan-to-sell-its-salem-church-product-business\/"},"modified":"2023-10-04T13:18:31","modified_gmt":"2023-10-04T17:18:31","slug":"salem-media-group-announces-plan-to-sell-its-salem-church-product-business","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/salem-media-group-announces-plan-to-sell-its-salem-church-product-business\/","title":{"rendered":"Salem Media Group Announces Plan to Sell Its Salem Church Product Business"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\">\nSalem Media Group Announces Plan to Sell Its Salem Church Product Business<\/p>\n<p>IRVING, Texas&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.salemmediagroup.com%2F&amp;esheet=53568080&amp;newsitemid=20231002251234&amp;lan=en-US&amp;anchor=Salem+Media+Group%2C+Inc.&amp;index=1&amp;md5=5deae99326e6ebcd754118ff58541b5f\">Salem Media Group, Inc.<\/a> (NASDAQ: SALM) announced today that it entered into an agreement to sell its Salem Church Products business to Gloo, LLC for $30 million. When the transaction closes, scheduled for November 1, the parties will also enter into a $10 million multi-year agreement for Salem to advertise the Gloo platform\u2019s products and services across Salem\u2019s radio and digital platform that serves the Christian audience.<\/p>\n<p>\nSalem Church Products creates and distributes resources for churches and ministries in the areas of church media, worship, children\u2019s ministry, preaching, teaching and employment through online resources including WorshipHouse Media, SermonSearch, ChurchStaffing, Children\u2019s Ministry Deals and many others.<\/p>\n<p>\nSalem\u2019s Chief Operating Officer David Evans said, \u201cWe are proud of the Church Products business we have built over the years. What started with a single website \u2013 SermonSearch \u2013 has grown into a successful organization providing valuable resources and services to local churches and their pastors. Any time we look to sell a business, we look for organizations that share our passion and that can take that business to the next level. Gloo is just such an organization and we couldn\u2019t be more thrilled.\u201d<\/p>\n<p>\nScott Beck, Chief Executive Officer of Gloo, said, \u201cSalem has been a tremendous partner for several years. We share their mission to equip and support the mission of the Church. Welcoming the Salem Church Products collection of brands to the Gloo platform will accelerate our ability to connect churches with a broad network of great products and producers in everything from Sunday weekend experiences, children\u2019s resourcing, staffing and digital evangelism\/discipleship. We are excited to support the Salem Church Products\u2019 great leadership team as they accelerate their ability to serve and expand their network.\u201d<\/p>\n<p>\nABOUT SALEM MEDIA GROUP:<\/p>\n<p>\nSalem Media Group is America\u2019s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.salemmedia.com&amp;esheet=53568080&amp;newsitemid=20231002251234&amp;lan=en-US&amp;anchor=www.salemmedia.com&amp;index=2&amp;md5=3e2053bd972f7c05227defba4b3e5001\">www.salemmedia.com<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.facebook.com%2FSalemmediagroup%2F&amp;esheet=53568080&amp;newsitemid=20231002251234&amp;lan=en-US&amp;anchor=Facebook&amp;index=3&amp;md5=0d2290c9b1914d8e7d0fe48be9b93219\">Facebook<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2Fsalemmediagrp%2F&amp;esheet=53568080&amp;newsitemid=20231002251234&amp;lan=en-US&amp;anchor=Twitter&amp;index=4&amp;md5=5de1bf198c52f89cbe726410dea43167\">Twitter<\/a>.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20231002251234r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20231002251234\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20231002251234\/en\/<\/a><\/span><\/p>\n<p>\nEvan D. Masyr<br \/>\n<br \/>Executive Vice President and Chief Financial Officer<br \/>\n<br \/>(805) 384-4512<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:evan@salemmedia.com\">evan@salemmedia.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Texas<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Advertising Entertainment Communications Consumer TV and Radio Religion Media<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20231002251234\/en\/555682\/3\/SMG_for_press_releases.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Salem Media Group Announces Plan to Sell Its Salem Church Product Business IRVING, Texas&#8211;(BUSINESS WIRE)&#8211;Salem Media Group, Inc. (NASDAQ: SALM) announced today that it entered into an agreement to sell its Salem Church Products business to Gloo, LLC for $30 million. When the transaction closes, scheduled for November 1, the parties will also enter into a $10 million multi-year agreement for Salem to advertise the Gloo platform\u2019s products and services across Salem\u2019s radio and digital platform that serves the Christian audience. Salem Church Products creates and distributes resources for churches and ministries in the areas of church media, worship, children\u2019s ministry, preaching, teaching and employment through online resources including WorshipHouse Media, SermonSearch, ChurchStaffing, Children\u2019s Ministry Deals and many others. Salem\u2019s &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/salem-media-group-announces-plan-to-sell-its-salem-church-product-business\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Salem Media Group Announces Plan to Sell Its Salem Church Product Business&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-788114","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Salem Media Group Announces Plan to Sell Its Salem Church Product Business - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/salem-media-group-announces-plan-to-sell-its-salem-church-product-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Salem Media Group Announces Plan to Sell Its Salem Church Product Business - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Salem Media Group Announces Plan to Sell Its Salem Church Product Business IRVING, Texas&#8211;(BUSINESS WIRE)&#8211;Salem Media Group, Inc. (NASDAQ: SALM) announced today that it entered into an agreement to sell its Salem Church Products business to Gloo, LLC for $30 million. When the transaction closes, scheduled for November 1, the parties will also enter into a $10 million multi-year agreement for Salem to advertise the Gloo platform\u2019s products and services across Salem\u2019s radio and digital platform that serves the Christian audience. Salem Church Products creates and distributes resources for churches and ministries in the areas of church media, worship, children\u2019s ministry, preaching, teaching and employment through online resources including WorshipHouse Media, SermonSearch, ChurchStaffing, Children\u2019s Ministry Deals and many others. 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