secwatch.observer — SEC 8-K summary
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Issuer:     SALEM MEDIA GROUP, INC. /DE/ (SALM)
CIK:        0001050606
Form:       8-K
Filed at:   2023-11-13T23:59:59+00:00
Accession:  0001193125-23-276041
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 Q3 revenue down 5% to $63.5M; net loss widens to $31.3M on $35.1M impairment
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- Total revenue $63.5M (-5.0% YoY); net loss $31.3M ($1.15 EPS) vs $11.9M loss prior year.
- Operating loss $36.3M includes $35.1M broadcast license impairment; adjusted EBITDA up 9.3% to $2.5M.
- Broadcast revenue down 4.2% to $49.0M; station operating income fell 31.8% to $6.8M.
- Agreed to sell Salem Church Products for $30M in Q4 2023; sold Greenville stations for $6.8M in Nov.
- Q4 2023 outlook: total revenue to decline 6-8% YoY; excluding political and asset sales, decline 2-4%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050606/000119312523276041/0001193125-23-276041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050606/000119312523276041/d396232d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-276041

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