SMG Withdraws Q1 2020 Guidance Due to Impact of COVID-19

RADIO ONLINE | Thursday, March 26, 2020

Salem Media Group

Salem Media Group is withdrawing its revenue and operating expense guidance for the first quarter of 2020 due to the growing social and economic impact of the COVID-19 pandemic. Based on current indications, Salem expects total first quarter 2020 revenue will be less than previously projected as a result of decreased revenues from advertising, programming, events and book sales.

Due to continuing uncertainties regarding the ultimate scope and trajectory of COVID-19's spread and evolution, the effects of the pandemic on Salem's audiences, programmers and advertisers, and current and potential future governmental restrictions that may be adopted in the markets in which Salem operates, Salem says it's impossible to predict the total impact that the pandemic may have on its business.