---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-227628"
form_type: "8-K"
ticker: "SALM"
cik: "0001050606"
company_name: "SALEM MEDIA GROUP, INC. /DE/"
filed_at: "2023-09-01T23:59:59+00:00"
generated_at: "2026-06-11T00:20:39.134909+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Salem Media extends forbearance period to Sep 29, 2023; reduces cash disposition threshold

## Summary
- Forbearance period extended through September 29, 2023 under Eighth Amendment to Credit Agreement.
- Cash/cash-equivalent requirement for permitted dispositions reduced from 100% to 75% during forbearance.
- Designated Events of Default remain continuing; company acknowledges $20.2M in revolving loans outstanding.
- Amendment includes release of claims by borrowers and reaffirmation of obligations without offset.
- Changes effective August 30, 2023; lenders include Wells Fargo as administrative agent.

## SEC filing metadata
- accession: 0001193125-23-227628
- form_type: 8-K
- ticker: SALM
- cik: 0001050606
- company_name: SALEM MEDIA GROUP, INC. /DE/
- filed_at: 2023-09-01T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050606/000119312523227628/0001193125-23-227628-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050606/000119312523227628/d861866d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-227628
- JSON: https://secwatch.observer/filing/0001193125-23-227628.json
- Plain text: https://secwatch.observer/filing/0001193125-23-227628.txt

## Key facts
- Material Agreements
  SALEM MEDIA GROUP, INC. /DE/ amended Amendment Number Eight to Credit Agreement and Amendment to Forbearance Agreement and Amendment Number Seven to Credit Agreement and Amendment Number One to Guaranty and Security Agreement with Wells Fargo Bank, National Association (effective 2023-08-30).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Effective: 2023-08-30
  source text: Salem Media Group, Inc. (the “ Company ”) and certain subsidiaries of the Company party to the Credit Agreement and the Forbearance Agreement (each as defined below) (together with the Company, the “ Loan Parties ”) entered into an Amendment Number Eight to Credit Agreement and Amendment to Forbearance Agreement and Amendment Number Seven to Credit Agreement and Amendment Number One to Guaranty and Security Agreement, dated as of August 30, 2023 (the “ Amendment ”), with the lenders party thereto (the “ Lenders ”), and Wells Fargo Bank, National Association, as administrative agent (the “ Agent ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1050606/000119312523227628/0001193125-23-227628-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.