Salem Communications (SALM) discusses how it came to acquire (quotes from conf call)

| About: Salem Media (SALM)

Below are some comments from Salem Communications (NASDAQ:SALM) from its March 7, 2005 conference call with investors.

…we got into this Internet business like a lot of other people in the late 90s. We poured resources in it and we had high hopes. There were half dozen entities that targeted this particular space….[including]…it's interesting that of all of those that arose…none of them are left… began as a Silicone Valley venture capitalist teamed up with Pat Robertson and some other investors. ..[] did represent one of the other significant companies out there, probably the only one besides our that was streaming content, audio content to some of the religious programs that we carry. With this acquisition…we rolled the assets on to our infrastructure. It is very accretive as we mentioned in our prepared comments…the URL is very valuable because it will continue to help us expand this business. We think it can be used in a lot of ways as we continue to make investment in our Internet business and grow that Internet business…And we sort of had our eye on it for a long time.…We talked with these folks for years and you just wait until it comes around to a deal that makes sense for us.

(Quotes from the CCBN StreetEvents transcript.)