Salem Broadcast Revenues Fall In Q1
May 8, 2013 at 4:08 AM (PT)
SALEM COMMUNICATIONS first quarter 2013 revenue rose 2.5% to $55.6 million, but net broadcast revenue fell 1.6% to $43.2 million (same station down 2.4% to $42,9 million).
EBITDA fell from a gain of $11.5 million to a loss of $17.3 million, with adjusted EBITDA off 4.2% to $11.2 million. The 2013 numbers included a $27.7 million loss on early retirement of long-term debt.
The company projects a 2% revenue increase in second quarter.