Salem Media Group has continued a recent trend of divestitures, this time inking a deal to sell its publishing division.
On Tuesday, the company announced it had reached an agreement to sell its Regnery Publishing company to Skyhorse Publishing, with expectations that the sale will close before the calendar year.
“We are thrilled to pass the torch of the oldest and most respected conservative publishing company in America to Free Speech advocate Tony Lyons and his incredibly successful Skyhorse Publishing,” said Salem Media COO David Evans. “Salem is committed to the dissemination of conservative ideas and is excited that Skyhorse will both be a powerful steward of this important brand and an engine for its future growth.”
Regnery Publishing was founded in 1947, and has published books from conservative political figures like Donald Trump, Rand Paul, Ted Cruz, Mitt Romney, Ronald Regan, and Ann Coulter, among others.
“We are so pleased to acquire this legendary publishing company, founded over 75 years ago, and are committed to building on the strong foundation that the Regnery staff has developed,” Skyhorse Publishing President and Publisher Tony Lyons said in a statement.
“We see a lot of synergies and opportunities for growth and will work hard to promote, market, and sell the books we have acquired and those that are pending, as well as to develop and pursue exciting new projects. Regnery will be an imprint of Skyhorse Publishing and will maintain its own identity.”
The sale of the publishing company coincides with recent deals made by Salem Media Group. Earlier this year, it sold its Church Products division for $30 million, it sold nearly $10 million of tower land in Sarasota, and sold three stations in its Greenville/Spartanburg cluster.
