---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-287578"
form_type: "8-K"
ticker: "SALM"
cik: "0001050606"
company_name: "SALEM MEDIA GROUP, INC. /DE/"
filed_at: "2023-12-01T23:59:59+00:00"
generated_at: "2026-06-07T19:08:25.015171+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 Dec 18; availability minimum raised to $5M then $7.5M

## Summary
- Forbearance period extended through December 18, 2023.
- Minimum Availability increased to $5M from Dec 1-8 and $7.5M thereafter.
- Outstanding Revolving Loans and L/C usage: $20,143,543.39 as of Nov 30, 2023.
- Designated Events of Default continue; amendment includes release and reaffirmation of obligations.
- Amendment also raises minimum availability to $7.5M after Dec 8.

## SEC filing metadata
- accession: 0001193125-23-287578
- form_type: 8-K
- ticker: SALM
- cik: 0001050606
- company_name: SALEM MEDIA GROUP, INC. /DE/
- filed_at: 2023-12-01T23:59:59+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/1050606/000119312523287578/0001193125-23-287578-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050606/000119312523287578/d583618d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-287578
- JSON: https://secwatch.observer/filing/0001193125-23-287578.json
- Plain text: https://secwatch.observer/filing/0001193125-23-287578.txt

## Key facts
- Material Agreements
  SALEM MEDIA GROUP, INC. /DE/ amended "Credit Agreement" with Wells Fargo Bank, National Association, as administrative agent (effective 2023-12-01).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent
  - Effective: 2023-12-01
  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 Eleven 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 December 1, 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/1050606/000119312523287578/0001193125-23-287578-index.htm

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