Salem Media Reports Q2 2025 Loss on Lower Revenues

RADIO ONLINE | Wednesday, August 13, 2025 | 2:56pm CT

Salem Media Group

Salem Media Group posted a net loss of $17.6 million for the second quarter ended June 30, compared to net income of $2.3 million in the same period last year, as lower revenues and a $25.2 million impairment charge on broadcast licenses weighed on results.

Total net revenue fell 10.7% to $54.1 million from $60.6 million a year ago. Broadcast revenue dropped to $42.1 million from $47.1 million, digital media revenue declined to $10.6 million from $11.9 million, and publishing revenue edged down to $1.5 million from $1.6 million.

Operating expenses jumped to $76.5 million from $54.9 million, reflecting the impairment charge, $0.4 million in restructuring costs tied to the sale of its Contemporary Christian Music stations, and higher publishing costs. Without the impairment, operating expenses would have been slightly lower year-over-year.

The company also recorded gains from asset sales during the quarter, including the April 4 sale of its remaining seven CCM stations for $80 million, which resulted in a pre-tax gain of $11.2 million. The proceeds were used to repay a $72 million secured promissory note issued in late 2024.

Salem said the impairment charges were driven by reduced long-term revenue growth forecasts across several major markets, including Atlanta, Boston, Cleveland, Dallas, Detroit, Los Angeles, Miami, Philadelphia, Phoenix, and San Francisco.