#wmuu

Uh oh.

Class of 1957 Stuart Epperson died in July 2023.

And now Salem Media Group is delisting and divesting.

This is a big deal.

First:

Salem Announces Voluntary Delisting from NASDAQ Salem Media Group gives formal notice to the Nasdaq Stock Market of its intention to voluntarily delist its Class A Common Stock from the Nasdaq Global Market and to deregister its Class A Common Stock under Section 12(b) of the Securities Exchange Act of 1934. As a result, the company expects that theim last trading day of its common stock on the Nasdaq Global Market will be on or about January 18, 2024. Further, prior to March 29, 2024, the company intends to file a Form 15 with the SEC to suspend its reporting obligations under Sections 12(g) and 15(d) of the Exchange Act. In June of 2023, Salem lost compliance with NASDAQ as its stock price slipped below the minimum bid price and never regained compliance and consequently Salem’s board of directors determined that the voluntary delisting is in the best interests of the company and its stockholders. Salem says it anticipates significant financial savings because of this decision. Salem expects that its Class A Common Stock will be quoted on the OTCQX or other market operated by OTC Markets Group Inc.

And then when it comes to the Greenville market:

Salem Media Group Announces Plan to Sell Its Greenville Radio Stations

IRVING, Texas--(BUSINESS WIRE)--Salem Media Group, Inc. (NASDAQ: SALM) announced today that it entered into an agreement to transfer the ownership of its Greenville-Spartanburg stations, WGTK-FM, WRTH-FM, and WLTE-FM to Educational Media Foundation (EMF). Salem Media CEO David Santrella stated, “We have enjoyed our years in the Greenville-Spartanburg market but have made the strategic decision to divest our interests there. As we do, we are grateful to be able to place these signals in the hands of Educational Media Foundation (EMF) who share a like-minded mission with Salem through their music programming. We are also thankful to our Greenville-Spartanburg staff for their many years of service.”

Bob Nestor, BJU’s pictorial historian, included this photo from 1972 of five students from HBCU Carver Bible College at WMUU radio station. Notice how he states that Elmer Rumminger was teaching a “three-hour course.” The picture is intended to document how BJU had an outreach to people it would never allowed to attend. 

Well, the facts from the Greenville News add a little more light. TL;DR: BJU wanted a license renewal from the FCC, and they had to prove that they weren’t racist. This from September 21, 1972:

That one full-time Black employee was Lucille Sullivan.

Note the final quotation:

The fact that these are heard consistently on WMUU offers encouragement and stimulation to young black musicians who may be interested in studying serious music or who simply enjoys (sic) listening to this type of music and are encouraged by hearing a member of their own race participating.