8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_______________

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): June 13, 2001

SALEM COMMUNICATIONS CORPORATION

(Exact Name of Registrant as Specified in Charter)

Delaware
(State or Other Jurisdiction
of Incorporation) 000-26497
(Commission
File Number) 77-0121400
(IRS Employer
Identification No.)

4880 Santa Rosa Road, Suite 300,
Camarillo, California
(Address of Principal Executive Offices)
93012
(Zip Code)

Registrant’s telephone number, including area code: (805) 987-0400

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

TABLE OF CONTENTS

	ITEM 5. OTHER EVENTS.
	ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
SIGNATURE
EXHIBIT INDEX
EXHIBIT 99.1

ITEM 5. OTHER EVENTS.

      On June 13, 2001, Salem Communications Corporation (the “Company”) announced that its wholly owned subsidiary, Salem Communications Holding Corporation, intends to offer $150 million of senior subordinated notes pursuant to exemptions from registration under the Securities Act of 1933. A copy of the press release announcing this offering is attached hereto as Exhibit 99.1.

ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

      (c) Exhibits. The following exhibit is filed with this report on Form 8-K:

Exhibit No.	Description
99.1	June 13, 2001 press release of the Company.

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SIGNATURE

      Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SALEM COMMUNICATIONS CORPORATION
Date: June 13, 2001	By:	/s/ Jonathan L. Block
		Jonathan L. Block Vice President, General Counsel and Secretary

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EXHIBIT INDEX

EXHIBIT
NUMBER	DESCRIPTION
99.1	June 13, 2001 press release of the Company.

4 EX-99.1 2 a73451ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

[SALEM COMMUNICATIONS LOGO]

FOR IMMEDIATE RELEASE
June 13, 2001

Media Contacts:
Tricia Whitehead
Spinhouse Public Relations
(615) 599-7746
spinhouse@home.com


Analysts and Investors:
John Buckley
Brainerd Communicators
(212) 986-6667
buckley@braincomm.com

SALEM COMMUNICATIONS ANNOUNCES INTENTION TO OFFER
$150 MILLION OF SENIOR SUBORDINATED NOTES

      CAMARILLO, Calif. —Salem Communications Corporation (NASDAQ: SALM) announced that its wholly owned subsidiary, Salem Communications Holding Corporation, intends to offer $150 million of senior subordinated notes pursuant to exemptions from registration under the Securities Act of 1933. Proceeds from the notes will be used to repay bank credit facility borrowings. The notes have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

      Salem Communications Corporation is headquartered in Camarillo, California. Upon the close of all announced transactions, the company will own and/or operate 79 radio stations, including 54 stations in the top 25 markets. In addition to its radio properties, Salem owns Salem Radio Network, which syndicates talk programming, news and music to more than 1,600 affiliated radio stations throughout the United States; OnePlace.com, the online division of Salem Communications; and CCM Communications, publisher of contemporary Christian music trade and consumer publications.

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EX-99.1

Salem Communications Corp.