Lotus Communications has purchased Money 105.5 in Sacramento from Salem Media Group.
The purchase of the business radio station grows the Sacramento cluster for Lotus. The company previously owned a Spanish music station heard on three signals in the market.
According to Radio Insight, Lotus will begin operating the station on Tuesday, August 1st. The company did not, however, purchase the format and intellectual property of the Money 105.5 brand from Salem.
Salem Media Group continues to own AM 1380 The Answer in the market, as well as a pair of Christian music and talk stations.
Lotus Communications paid a reported $1 million for the station. The sale of the station by Salem Media Group comes after the organization was given a delisting notice by Nasdaq late last month. The company’s stock price failed to exceed $1 for 32 consecutive business days. Salem has until Wednesday, December 20th to regain compliance. As of this story’s publication, Salem’s current Nasdaq price is $0.91.
