Salem Media Group Q3 Total Revenue Down 2.2% to $64.1M
| RADIO ONLINE | Tuesday, November 12, 2019 |
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 Salem Media Group |
Salem Media Group reported third quarter total revenue declined 2.2% to $64.1 million from $65.5 million. Net broadcast revenue fell 2.3% to $47.7 million from $48.8 million, while station operating income (SOI) decreased 11% to $10.4 million from $11.7 million. Adjusted EBITDA fell 13% to $9 million from $10.3 million. The company posted a net loss of $20 million (75 per share), as compared to earnings of $1.2 million (5 cents) in the year-ago period.
Digital media revenue decreased 12% to $9.1 million from $10.4 million and Digital Media Operating Income was down 21.4% to $1.9 million from $2.4 million.
Looking ahead to the fourth quarter, the company is projecting total revenue to decrease between 4% and 6% from 2018 total revenue of $67.2 million. Excluding the impact of political revenue and recent acquisitions and dispositions, SMG is projecting total revenue to be between flat and a decrease of 2%.
