Salem Posts Gains in Q2

Salem Posts Gains in Q2
Publish date:

Salem Communications said it experienced the same "weak" radio ad market as other companies in its latest quarter but was able to wring out net broadcasting revenue growth of 5.4%, it said. Same-station net broadcasting revenue increased 2.9% to $51.4 million. Total revenue increased 8.8% to $58.1 million in the quarter.
President/CEO Edward G. Atsinger III said its non-broadcast media businesses helped Salem's overall revenue increase 8.8%. The company recently closed on the purchases of non-radio properties, Xulon Press and Preaching Magazine.
For the first half of the year, Salem's total revenue is up 7.1%, net broadcast revenue is up 4.7% and same-station net revenue is up 1.8%.