Salem Pres./COO Dr. Frank Wright Resigns
January 5, 2015 at 6:08 AM (PT)
Quietly, over the holiday break, SALEM COMMUNICATIONS filed an 8-K Form with the SECURITIES AND EXCHANGE COMMISSION notifying that Pres./COO DR. FRANK WRIGHT had exited the company.
SALEM wrote, "On DECEMBER 19th, 2014, DR. FRANK WRIGHT, Pres./COO of SALEM COMMUNICATIONS CORP. (the “Corporation”), resigned from the Corporation effective as of DECEMBER 31st, 2014."
The company also noted, "Prior to DECEMBER 31st, 2014, the Corporation anticipates that it will enter into a severance agreement and release with Mr. WRIGHT, pursuant to which the Corporation will pay severance to Mr. WRIGHT in an amount equal to six (6) months of his current base salary payable by the Corporation in six (6) equal monthly installments."