CFO Says Salem May Delay Debt-Cutting Goal If Acquisitions Come Along
September 16, 2014 at 3:57 AM (PT)
SALEM COMMUNICATIONS CFO EVAN MASYR told BLOOMBERG NEWS that his company may delay its plan to lower its debt-to-EBITDA ratio to under 4 times from close to 6 times if it finds acquisitions it wants to make.
MASYR told BLOOMBERG, “We’ll get there in plenty of time before we have to refinance. If no good acquisition opportunities come up, we’ll get there quicker, and if some do, it may take a little longer.”
SALEM has made several acquisitions in recent years, including the purchase of EAGLE PUBLISHING last year.