Salem Communications to redeem $94 million 9% notes

By Jennifer Chiou

New York, June 6 - Salem Communications Corp. announced that wholly owned subsidiary Salem Communications Holding Corp. will redeem its $94 million of 9% senior subordinated notes due July 2011.

The Camarillo, Calif., radio broadcaster and magazine publisher said it will pay 104.5% to redeem the notes on July 6.

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