---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-206218"
form_type: "8-K"
ticker: "SALM"
cik: "0001050606"
company_name: "SALEM MEDIA GROUP, INC. /DE/"
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T00:21:35.412905+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Salem Media Q2 revenue down 4.2% to $65.8M; net loss $7.1M vs prior-year net income $9.1M

## Summary
- Net loss per diluted share $0.26 vs $0.33 income YoY; Adjusted EBITDA fell 77% to $2.7M.
- Broadcast revenue declined 5.3% to $49.7M; Station Operating Income down 43.5%.
- Company not in compliance with fixed charge coverage ratio at June 30; bank forbearance signed through August with revolver reduced to $25M and rate +200 bps.
- Impairment charges totaling $2.9M (goodwill in Townhall and broadcast licenses in Portland/SF).
- Q3 outlook: total revenue projected to decline 3%-5% from $66.9M in Q3 2022.

## SEC filing metadata
- accession: 0001193125-23-206218
- form_type: 8-K
- ticker: SALM
- cik: 0001050606
- company_name: SALEM MEDIA GROUP, INC. /DE/
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050606/000119312523206218/0001193125-23-206218-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050606/000119312523206218/d457546d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-206218
- JSON: https://secwatch.observer/filing/0001193125-23-206218.json
- Plain text: https://secwatch.observer/filing/0001193125-23-206218.txt

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