Salem Media Group Second Quarter Revenues Skid While Net Loss Narrows

Tough Q2

SALEM MEDIA GROUP second quarter 2020 revenues fell 18.3% to $52.9 million, with the broadcasting segment seeing a 19.6% decrease to $39.5 million (same station off 17.4%), digital media off 5.2% to $9.4 million, and publishing falling 29.3% to $4 million.

Net loss narrowed from $3.6 million to $2.5 million (14 to 9 cents/share), while EBITDA plummeted 72.1% to $2.7 million and Adjusted EBITDA fell 72.4% to $2.8 million.

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