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Money is the Real Motivation for Religious Right Groups
Salem Communications Corporation buys Christianity.com adding web services to its over 1,900 affiliated radio stations providing "Christian content".
The Christian faith is for sale. That, at least, is the belief of those running the Salem Communications Corporation, which in February, 2005, purchased the website domain "Christianity.com" for $3.4 million. The article below is from Forbes Busness Wire. The content of the Christian faith is now traded on the stock exchange. The words and symbols of Christianity have been captured by people who believe more in free market principles than the historic meaning of the gospel of God's free grace and compassion for others.
BusinessWire - Salem Communications to Acquire Christianity.com; Move Further Strengthens Web-Based Leadership Position 02.11.05, 5:15 PM ET
Salem Communications Corporation (Nasdaq:SALM), the leading radio broadcaster focused on Christian and family-themed programming, today announced that it would acquire Christianity.com, an online provider of compelling Christian content and a wide range of ministry resources, for approximately $3.4 million.
"The acquisition of Christianity.com is another important step forward in Salem's online strategy," said Edward G. Atsinger III, President and CEO of Salem Communications. "This acquisition provides additional content of interest to our audience as well as a premier web address to enable us to better deliver our ministries' and advertisers' messages to our growing faith-based audience. By leveraging the operational infrastructure of our existing Internet businesses OnePlace.com and Crosswalk.com, which target this same audience, we believe the acquisition of Christianity.com will contribute to cash flow almost immediately and be accretive to earnings in the first year of operation."
"This site is foundational to our efforts to serve the vast audience interested in this content," said Jim Cumbee, Salem's President of Non-Broadcast Media. "The site will undergo a complete re-design and substantial upgrade of services and features for the millions of people who are seeking compelling Christian content and faith-influenced services."
The websites owned and operated by Salem Communications are leading Christian themed websites reaching an audience of more than three million unique visitors that view more than 33 million pages each month. Salem Communications' owned and operated web properties include Crosswalk.com, OnePlace.com, Christianjobs.com, TheFish.com and CCMMagazine.com, as well as 62 of its radio station websites.
Salem Communications Corporation (Nasdaq:SALM), headquartered in Camarillo, Calif., is the leading U.S. radio broadcaster focused on Christian and family themes programming. Upon the close of all announced transactions, the company will own 104 radio stations, including 67 stations in 24 of the top 25 markets. In addition to its radio properties, Salem owns Salem Radio Network, which syndicates talk, news and music programming to over 1,900 affiliated radio stations; Salem Radio Representatives, a national sales force; Salem Web Network, a leading Internet provider of Christian content and online streaming; and Salem Publishing, a leading publisher of Christian themed magazines. Information may be accessed at the company's website www.salem.cc.
Source: Forbes Business Wire
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