secwatch.observer — SEC 8-K summary
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Issuer:     SALEM MEDIA GROUP, INC. /DE/ (SALM)
CIK:        0001050606
Form:       8-K
Filed at:   2022-11-03T23:59:59+00:00
Accession:  0001193125-22-276897
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Salem Media Q3 revenue up 1.3% to $66.9M but net loss $11.9M vs prior year profit; guides Q4 revenue down 3-5%
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- Net loss of $11.9M ($0.44 loss per share) compared to net income of $22.1M ($0.81 EPS) in Q3 2021.
- Adjusted EBITDA fell 78.8% to $2.3M; operating loss of $8.8M vs operating income of $15.8M.
- Recorded $7.7M impairment of broadcast licenses across 12 markets and $3.8M legal settlement expense.
- Broadcast revenue up 3.1% to $51.1M, but station operating income (SOI) decreased 17.9% to $10.0M.
- Q4 2022 outlook: total revenue expected to decrease 3-5% YoY; Recurring Operating Expenses up 4-7%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050606/000119312522276897/0001193125-22-276897-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050606/000119312522276897/d414340d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-276897

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