---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-247394"
form_type: "8-K"
ticker: "SALM"
cik: "0001050606"
company_name: "SALEM MEDIA GROUP, INC. /DE/"
filed_at: "2023-09-29T23:59:59+00:00"
generated_at: "2026-06-10T06:45:49.475607+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 Nov 3, 2023; availability requirement rises to $5M

## Summary
- Forbearance period extended through Nov 3, 2023; availability minimum of $1M until then, $5M thereafter.
- Outstanding revolving loans and letter of credit usage: $18.84M as of Sept 26, 2023.
- Designated events of default remain continuing; no cure provided.
- Loan parties release all claims against lenders and reaffirm obligations and liens.

## SEC filing metadata
- accession: 0001193125-23-247394
- form_type: 8-K
- ticker: SALM
- cik: 0001050606
- company_name: SALEM MEDIA GROUP, INC. /DE/
- filed_at: 2023-09-29T23:59:59+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/1050606/000119312523247394/0001193125-23-247394-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050606/000119312523247394/d533042d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-247394
- JSON: https://secwatch.observer/filing/0001193125-23-247394.json
- Plain text: https://secwatch.observer/filing/0001193125-23-247394.txt

## Key facts
- Material Agreements
  SALEM MEDIA GROUP, INC. /DE/ amended Amendment Number Nine 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 valued at extends forbearance period to November 3, 2023; requires availability of at least $5,000,000 from No (effective 2023-09-28).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Value: extends forbearance period to November 3, 2023; requires availability of at least $5,000,000 from No
  - Effective: 2023-09-28
  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 Nine 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 September 28, 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/1050606/000119312523247394/0001193125-23-247394-index.htm

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