---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-21-320151"
form_type: "8-K"
ticker: "SALM"
cik: "0001050606"
company_name: "SALEM MEDIA GROUP, INC. /DE/"
filed_at: "2021-11-04T23:59:59+00:00"
generated_at: "2026-06-28T12:33:00.162521+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Salem Media Q3 revenue $66M (+8.8%); net income $22.1M vs $0.3M on asset sale gains

## Summary
- Net income $22.1M ($0.81 diluted EPS) vs $0.3M ($0.01) YoY; includes $10.6M gain on asset sales.
- Adjusted EBITDA $10.8M, up 12.5% from $9.6M; total operating expenses down 10.2%.
- Refinanced $112.8M of 2024 Notes into 7.125% Senior Secured Notes due 2028; plus $50M delayed draw commitments.
- Q4 2021 outlook: total revenue flat to +2% YoY; ex-political revenues up 6-8%.
- Sold Lewisville, TX land for $12.1M; pending sales of Tampa and Denver land for $13.5M and $8.2M respectively.

## SEC filing metadata
- accession: 0001193125-21-320151
- form_type: 8-K
- ticker: SALM
- cik: 0001050606
- company_name: SALEM MEDIA GROUP, INC. /DE/
- filed_at: 2021-11-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050606/000119312521320151/0001193125-21-320151-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050606/000119312521320151/d246810d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-21-320151
- JSON: https://secwatch.observer/filing/0001193125-21-320151.json
- Plain text: https://secwatch.observer/filing/0001193125-21-320151.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.