'Extremely Rare' Opportunity: Moody Sells Atlanta AM to Salem

'Extremely Rare' Opportunity: Moody Sells Atlanta AM to Salem
Author:
Publish date:

Call it a station sale made in heaven.
Salem Communications will buy Atlanta AM station WAFS from Moody Bible Institute for $16.4 million.
The station is programmed in a Christian teaching/talk format. Salem expects to take control this summer.
Salem President/CEO Edward G. Atsinger III said Atlanta is perceived by the broadcast industry as one of the most attractive radio markets in the country. He called the opportunity to acquire a strong signal there "extremely rare" and said the station "represents a substantial opportunity for Salem."
In its own announcement, Moody Bible Institute said it made the sale "in a strategic move to most effectively use the resources God has provided."
"For many years MBI has envisioned expanding beyond the scope of radio broadcasting. The sale of WAFS will provide MBI with several opportunities to diversify its outreach in Atlanta and secure the means to advance the cause of Christ worldwide more effectively."
MBI said Salem has agreed that certain of its radio programming will continue to be aired on WAFS.

Related