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Salem Media Group Q3 Revs Down 4.8%, $0.75 EPS Loss


Salem Media Group
Salem Media Group

Salem Media Group reported third quarter net broadcast revenue declined 4.8% to $45.3 million from 47.6 million in 2019. Total broadcast advertising/spot revenue declined 21.7%, while station operating income (SOI) grew 7.1% and digital media rose 7.2%. Adjusted EBITDA gained 6.9% to 9 million. The company posted a net loss of $20 million (-75 cents per diluted share) as compared to a net income of $329,000 (1 cent) in the year-ago period.

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