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Salem Posts Gains in Q2

Salem Posts Gains in Q2

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%.