Salem Communications Corporation (Salem) is a domestic multi-media company with integrated business operations covering radio broadcasting, publishing and the Internet. Salem�s core business is the ownership and operation of radio stations in large metropolitan markets. Upon the close of all announced transactions, it will own and/or operate a national portfolio of 96 radio stations in 37 markets, including 59 stations in 22 of the top 25 markets, which consists of 27 frequency modulation stations and 69 amplitude modulation stations. It also programs the Family Talk Christian-themed talk format station on SiriusXM Channel 131. The Company's broadcast business also includes Salem Radio Network, a wholly owned national radio network syndicating music, news and talk programs to over approximately 2,000 affiliated radio stations, in addition to those stations that it owns and operates. In August 2012, the Company acquired SermonSpice.com, an online provider of church media.