secwatch.observer — SEC 8-K summary
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Issuer:     SALEM MEDIA GROUP, INC. /DE/ (SALM)
CIK:        0001050606
Form:       8-K
Filed at:   2021-11-04T23:59:59+00:00
Accession:  0001193125-21-320151
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050606/000119312521320151/0001193125-21-320151-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050606/000119312521320151/d246810d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-320151

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer