Conservative Media Giants to Merge for $8.5 Million
Salem Communications, a powerhouse in conservative and Christian media, said Monday it has paid $8.5 million to acquire Eagle Publishing, the parent company of HumanEvents.com, Redstate.com and Regnery Publishing, famous for books by William F. Buckley Jr., Ann Coulter, Dinesh D'Souza, Mark Steyn and others on the political right.
The acquisition, news of which sent shares of Salem 2 percent higher to $8.95 on Monday, also includes Eagle Financial Publications and Eagle Wellness.
Salem CEO Edward Atsinger III said he intends to market the products from Eagle Publishing through Salem's 102 radio stations and its myriad websites, such as Townhall.com, HotAir.com and Twitchy.com, which Salem recently acquired from conservative columnist Michelle Malkin.
Salem also produces some of the country's most popular talk-radio shows, from hosts like Michael Medved, Dennis Prager, Hugh Hewitt and Bill Bennett.
Eagle Publishing was founded by Tom Phillips as a conservative publishing company in 1993, and shortly thereafter it acquired Regnery, a leader in conservative books that was founded in 1947 by Henry Regnery.
"Salem's unique assets and strong management will ensure a bright future for the Eagle companies and take the combined company to a new level of success and influence," said Eagle president Jeff Carneal.
A spokeswoman said that Carneal will leave the company, Eagle will remain headquartered in Washington, D.C., and no layoffs are planned due to the acquisition.