secwatch.observer — SEC 8-K summary
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Issuer:     SALEM MEDIA GROUP, INC. /DE/ (SALM)
CIK:        0001050606
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001193125-23-206218
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050606/000119312523206218/0001193125-23-206218-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050606/000119312523206218/d457546d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-206218

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