Salem Communications to Buy Radio Station
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From Associated Press
Christian radio station KGBI-FM will be sold by Grace University in a $10-million deal to Salem Communications Corp., the nation’s leading radio broadcaster of religious and family-themed programming.
Camarillo-based Salem’s deal for KGBI includes a cash payment and a promotional package for Grace, a nondenominational Christian university in Omaha.
Grace has owned and operated the radio station since May 1966. University President Jim Eckman said the sale allowed the school to focus on higher education.
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