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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. ______ )*
SALEM COMMUNICATIONS CORPORATION
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(Name of Issuer)
CLASS A COMMON STOCK, $0.01 PAR VALUE
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(Title of Class of Securities)
794093 10 4
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(CUSIP Number)
December 31, 1999
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
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* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the Notes).
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CUSIP No. 794093 10 4 13G Page 1 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION Stuart W. Epperson, Sr. (###-##-####),
NO. OF PERSON for himself and as Trustee of the
Epperson 1999 Trust No. 1, U/D/T dated
March 31, 1999 (###-##-####)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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5 SOLE VOTING POWER
NUMBER OF 4,083,696 shares
SHARES -------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY
------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 4,083,696 shares
PERSON ------------------------------------------------
8 SHARED DISPOSITIVE POWER
WITH
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,083,696 shares
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
22.9%
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12 TYPE OF REPORTING PERSON (See Instructions)
IN and 00 (Trust)
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 794093 10 4 13G Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON Nancy A. Epperson
S.S. or I.R.S. IDENTIFICATION NO.
OF PERSON ###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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5 SOLE VOTING POWER
NUMBER OF 0
SHARES -------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY
------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ------------------------------------------------
8 SHARED DISPOSITIVE POWER
WITH
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,083,696 shares
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
22.9%
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12 TYPE OF REPORTING PERSON (See Instructions)
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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Page 3 of 5 Pages
Pursuant to Rule 13d-1(k)(1), this statement is filed on behalf of two or more
reporting persons identified herein with respect to shares of Class A Common
Stock of Salem Communications Corporation.
ITEM 1(a). NAME OF ISSUER:
Salem Communications Corporation
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
4880 Santa Rosa Road, Suite 300, Camarillo, California 93012
ITEM 2(a). NAME OF PERSON FILING:
This statement is filed by two (2) reporting persons: (1)
Stuart W. Epperson, Sr. ("S. Epperson") for himself and as
Trustee of the Epperson 1999 Trust No. 1, U/D/T dated March
31, 1999; and (2) Nancy A. Epperson ("N. Epperson") for
herself.
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
4880 Santa Rosa Road, Suite 300, Camarillo, California 93012
ITEM 2(c). CITIZENSHIP:
United States of America
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
This statement relates to the Class A Common Stock, par value
$0.01 per share, of Salem Communications Corporation (the
"Class A Common Stock")
ITEM 2(e). CUSIP NUMBER:
794093 10 4
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR
13d-2(b) OR (C), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under Section 15 of the
Exchange Act;
(b) [ ] Bank as defined in Section 3(a)(6) of the Exchange
Act;
(c) [ ] Insurance company as defined in Section 3(a)(19) of
the Exchange Act;
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act;
(e) [ ] An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in
accordance with Rule 13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in
accordance with Rule 13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of
the Federal Deposit Insurance Act;
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Page 4 of 5 Pages
(i) [ ] A church plan that is excluded from the definition of
an investment company under Section 3(c)(14) of the
Investment Company Act;
(j) [ ] Group, in accordance with Rule 13d-1(b)(ii)(J).
Not applicable.
ITEM 4. OWNERSHIP.
(a) AMOUNT BENEFICIALLY OWNED: As of December 31, 1999: (1) S.
Epperson was deemed to beneficially own 1,584,560 shares of
Class A Common Stock held by himself and 2,499,136 shares of
Class A Common Stock held by the Epperson 1999 Trust No. 1,
U/D/T dated March 31, 1999; (2) N. Epperson was deemed to
beneficially own 4,083,696 shares of Class A Common Stock
because, as husband and wife, E. Epperson and N. Epperson are
each deemed to be the beneficial owner of shares held by the
other.
(b) PERCENT OF CLASS:
S. Epperson - 22.9%
N. Epperson - 22.9%
(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) SOLE POWER TO VOTE OR TO DIRECT THE VOTE -
S. Epperson - 4,083,696
N. Epperson - 0
(ii) SHARED POWER TO VOTE OR TO DIRECT THE VOTE -
S. Epperson - 0
N. Epperson - 0
(iii) SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF -
S. Epperson - 4,083,696
N. Epperson - 0
(iv) SHARED POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF -
S. Epperson - 0
N. Epperson - 0
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not applicable.
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Page 5 of 5 pages
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON.
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY.
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
ITEM 10. CERTIFICATION.
Not applicable.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 11, 2000
/s/ Stuart W. Epperson, Sr.
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Stuart W. Epperson, Sr.
Dated: February 11, 2000
/s/ Nancy A. Epperson
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Nancy A. Epperson
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EXHIBIT INDEX
Exhibit No. Description
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1 Filing Agreement - regarding the filing of one statement with
respect to the same securities.
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FILING AGREEMENT
This Agreement is made and entered into as of this 11th day of February 2000
among Stuart W. Epperson, Sr. and Nancy A. Epperson.
Stuart W. Epperson, Sr. and Nancy A. Epperson hereby agree that only one
statement will be filed on behalf of each of them pursuant to Schedule 13G
containing the information required to be disclosed by Section 13(d) of the
Securities Exchange Act of 1934, as amended, and rules thereunder with respect
to the shares of Class A Common Stock of Salem Communications Corporation that
are beneficially owned by Stuart W. Epperson, Sr. and Nancy A. Epperson.
Witness the due execution hereof by the undersigned as of the date first above
written.
/s/ Stuart W. Epperson, Sr.
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Stuart W. Epperson, Sr.
/s/ Nancy A. Epperson
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Nancy A. Epperson
