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Salem Redeems Notes Early
June 6, 2006 at 7:29 PM (PT)
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SALEM COMMUNICATIONS' subsidiary SALEM COMMUNICATIONS HOLDING CORP. is redeeming the remainder of its outstanding 9% senior subordinated notes due July 2011. The redemption is scheduled for JULY 6 at a redemption price of 104.5% of the principal amount outstanding ($94 million); SALEM is taking a loss of about $3.6 million due to the early redemption.

