Salem Communications Corp. has reported that total revenue decreased 6.3% to $54.8 million from $58.5 million for the fourth quarter that ended Dec. 31 compared to the same period in 2007.

A Christian radio broadcaster, Internet content provider, and magazine and book publisher, Salem also projected total revenue to decrease 11% to 14%, to $54 million, over the first quarter of 2009 compared to the same period in 2008.

As of Dec. 31, the company had net debt of $323.5 million, company officials said. Effective March 11, the company amended its bank credit facility. Among other things, the amendment terminated Salem's revolving line of credit, company officials said.

Salem--which owns CCM Magazine--plans to sell radio station WRFD in Columbus, Ohio, for approximately $4 million, and the company will acquire radio station WAMD in Baltimore for approximately $2.7 million.

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