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CAMARILLO, Calif. - Salem Media Group, Inc. (OTCQX: SALM), a $12.8 million market cap media company known for its Christian and conservative content, has announced a significant expansion through a partnership with Donald Trump Jr. and Lara Trump. The company’s stock has shown remarkable momentum, delivering a 119% return over the past six months, according to InvestingPro data. The company has acquired a 30% stake in MxM News, a mobile news aggregation app co-owned by Mr. Trump Jr., and has entered into a strategic agreement with Lara Trump for digital podcast space growth, advertiser partnerships, and content innovation.
The deal positions Salem to become a more dominant force in conservative media, leveraging the Trumps’ influence and reach. Donald Trump Jr. is set to become a key stakeholder and strategic force behind Salem’s future, while Lara Trump has renewed her exclusive podcast agreement with the Salem Podcast Network and will continue producing and hosting her show.
David Santrella, CEO of Salem Media Group, emphasized the importance of the partnership, stating that the Trumps bring "credibility, energy, and the kind of megaphone that moves markets and shapes public opinion." Both Donald Trump Jr. and Lara Trump will also hold significant ownership stakes in Salem Media, aligning their interests with the company’s success and shareholder value.
This move follows Salem’s recent achievement of eliminating all corporate long-term debt and comes after growing the #1 conservative news show in America. With annual revenue of $237.6 million and a FAIR financial health score from InvestingPro, the company aims to create a full-spectrum media ecosystem that caters to today’s America, encompassing broadcast, podcasting, digital, and on-demand streaming.
The announcement signals a strategic transformation for Salem Media, as it cements its emergence as a platform for conservative content. This partnership is poised to build upon the company’s revitalized balance sheet and cultural influence, marking the beginning of what Salem describes as a reinvention of its conservative content offerings. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available to subscribers regarding the company’s growth potential and market position.
This news article is based on a press release statement from Salem Media Group, Inc.
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