---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-270512"
form_type: "8-K"
ticker: "SALM"
cik: "0001050606"
company_name: "SALEM MEDIA GROUP, INC. /DE/"
filed_at: "2023-11-03T23:59:59+00:00"
generated_at: "2026-06-08T21:52:44.173572+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Salem Media extends forbearance to Nov 27, shortens credit maturity to Feb 1, 2024

## Summary
- Forbearance period extended through November 27, 2023, from the earlier November 2 date.
- Credit agreement maturity shortened to February 1, 2024.
- Minimum availability requirement raised from $1M to $2M starting November 7, 2023.
- Operating cash balances limited to amounts for payables and payroll due within 3 days.
- Borrowers reaffirm ~$19.2 million in revolving loans and LC usage as of November 1, 2023.

## SEC filing metadata
- accession: 0001193125-23-270512
- form_type: 8-K
- ticker: SALM
- cik: 0001050606
- company_name: SALEM MEDIA GROUP, INC. /DE/
- filed_at: 2023-11-03T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050606/000119312523270512/0001193125-23-270512-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050606/000119312523270512/d580146d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-270512
- JSON: https://secwatch.observer/filing/0001193125-23-270512.json
- Plain text: https://secwatch.observer/filing/0001193125-23-270512.txt

## Key facts
- Material Agreements
  SALEM MEDIA GROUP, INC. /DE/ amended Amendment with the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent (effective 2023-11-02).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent
  - Effective: 2023-11-02
  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 Ten 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 November 2, 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/1050606/000119312523270512/0001193125-23-270512-index.htm

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