Welcome to our dedicated page for Salem Media news (Ticker: SALM), a resource for investors and traders seeking the latest updates and insights on Salem Media stock.
Salem Media Group Inc. (SALM) reports developments across its Christian and conservative media operations, including national radio programming, local station lineups, digital audio, streaming television and publishing brands. Recurring updates include Salem Radio Network hosts, WMCA and other station programming, Salem Podcast Network launches, and distribution expansion for Salem News Channel on connected-TV and free ad-supported streaming platforms.
Company news also covers annual reporting, media-industry recognition, Christian broadcasting awards and cross-platform content initiatives that connect Salem personalities, radio affiliates, digital properties and streaming channels.
Salem Media Group (Nasdaq: SALM) reported its financial results for Q3 2020, noting a 15% increase in net broadcast revenue compared to Q2 2020, yet a 4.8% decline year-over-year. Key highlights included a significant operating income turnaround, reporting $4.8 million versus a loss of $14.5 million in Q3 2019, and adjusted EBITDA rose 6.9% to $9.6 million. However, total revenue decreased 5.4% to $60.6 million, driven by a 25.3% drop in publishing revenue. As of September 30, 2020, the company held $19.3 million in cash, and its net loss was notably reduced to $0.3 million from $20 million.
Salem Media Group, Inc. (NASDAQ: SALM) plans to announce its third quarter 2020 financial results after market closure on November 12, 2020. The company will also hold a teleconference at 2:00 P.M. PT on the same day to discuss the results. Investors can listen to the call by dialing (877) 524-8416 or via webcast. A replay will be available until November 26, 2020.
Salem Media Group (NASDAQ: SALM) has premiered the documentary film, “America’s Forgotten,” on its SalemNow platform. The film, which tackles illegal immigration, received rave reviews as “Explosive” by Newsweek and “Revolutionary” by Daily Wire. Initially planned for theater release, the premiere occurred on October 9, 2020, due to Covid-19. The film's nationwide release is set for October 16, 2020. SalemNow targets audiences interested in Christian and family-oriented content, featuring previous successful titles like “No Safe Spaces” and “Uncle Tom.”