Salem Increases Q4 Guidance

Christian radio group Salem Communications told financial analysts it will do better in the fourth quarter than it had earlier predicted.
The company projects net broadcast revenue of between $48.75 million and $49.25 million in the fourth quarter. The company anticipates same-station net broadcasting revenue growth of approximately 10% for the fourth quarter.
Upon the close of all announced acquisitions, the company will own 103 radio stations, including 67 stations in 24 of the top 25 markets. Salem also owns a radio network; a national sales force; an Internet provider of Christian content and online streaming; and a publishing division.