{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-250383","form_type":"8-K","ticker":"SALM","cik":"0001050606","company_name":"SALEM MEDIA GROUP, INC. /DE/","filed_at":"2023-10-04T23:59:59+00:00","discovered_at":"2026-05-14T18:03:28.036123+00:00","generated_at":"2026-06-10T04:30:47.933098+00:00","sec_items":["1.01","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Salem Media Group to sell Salem Church Products to Gloo for $30M; expects close Nov 1","bullets":["Sale price includes $22.5M cash and $7.5M secured promissory note; total $30M.","Gloo Holdings to issue Salem 833,333 Series A Preferred Units with a put option for min $10M after Jan 2027.","Salem grants $10M advertising credit to Gloo (spot/digital ads) to use by Dec 2028.","Salem agrees to 5-year non-compete in church resources ecommerce retail business.","Transition services agreement to support Gloo through migration post-closing."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-250383","json":"https://secwatch.observer/filing/0001193125-23-250383.json","markdown":"https://secwatch.observer/filing/0001193125-23-250383.md","text":"https://secwatch.observer/filing/0001193125-23-250383.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1050606/000119312523250383/0001193125-23-250383-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1050606/000119312523250383/d520355d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T04:30:47.933098+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"27892d9455538a80a89da2a21b7569dc402bdc37","claim":"SALEM MEDIA GROUP, INC. /DE/ entered into Asset Purchase Agreement with Gloo Acquisition Corp I, LLC valued at $30,000,000 (effective 2023-09-29).","evidence_excerpt":"On September 29, 2023, Salem Web Network, LLC (“SWN”), a subsidiary of Salem Media Group, Inc. (the “Company” or “Salem”) entered into an Asset Purchase Agreement (“APA”) to sell its Salem Church Products business to Gloo Acquisition Corp I, LLC (“Gloo”) for $30,000,000 (the “Transaction”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1050606/000119312523250383/0001193125-23-250383-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"Gloo Acquisition Corp I, LLC"},{"label":"Value","value":"$30,000,000"},{"label":"Effective","value":"2023-09-29"}],"fact_type":"material_agreement"},{"claim_id":"41b061bddc2aab60479fc2616d0075b806de3b7c","claim":"SALEM MEDIA GROUP, INC. /DE/ entered into Series A Preferred Membership Unit Purchase Agreement with Gloo Holdings, LLC (effective 2023-09-29).","evidence_excerpt":"Salem and Gloo Holdings, LLC (“Gloo Holdings”) will enter into a “Series A Preferred Membership Unit Purchase Agreement” (“Membership Interest Purchase Agreement”) pursuant to which Gloo Holdings will issue 833,333 Series A Preferred Membership Units (the “Units”) to Salem.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1050606/000119312523250383/0001193125-23-250383-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Gloo Holdings, LLC"},{"label":"Effective","value":"2023-09-29"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}