Salem Media Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 04:16 pm EST
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Salem Media Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 63.5 million compared to USD 66.86 million a year ago. Net loss was USD 31.3 million compared to USD 11.89 million a year ago. Basic loss per share from continuing operations was USD 1.15 compared to USD 0.44 a year ago. Diluted loss per share from continuing operations was USD 1.15 compared to USD 0.44 a year ago.
For the nine months, revenue was USD 192.76 million compared to USD 198.15 million a year ago. Net loss was USD 43.55 million compared to USD 1.03 million a year ago. Basic loss per share from continuing operations was USD 1.6 compared to USD 0.04 a year ago. Diluted loss per share from continuing operations was USD 1.6 compared to USD 0.04 a year ago.
Salem Media Group, Inc. is a domestic multimedia company specializing in Christian and conservative content, with media properties comprising radio broadcasting, digital media, and publishing. Its segments include Broadcast, Digital Media and Publishing. The Broadcast segment is engaged in the business of radio broadcasting, which includes the ownership and operation of radio stations in metropolitan markets. The Digital Media segment provides Christian, conservative, investing content, audio and video streaming, and other resources digitally through the Web. It operates two businesses in its book publishing segment: Regnery Publishing and Salem Author Services. Regnery Publishing is a traditional book publisher. The books are sold in traditional printed form and as eBooks, such as Regnery Political, Regnery History, Regnery Kids, Gateway Editions and Salem Books. Salem Author Services is a self-publishing service for authors through two imprints: Xulon Press and Mill City Press.