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Salem Media Group Inc. (SALM) is a leading multi-media company primarily focused on Christian and family-themed content. Headquartered in Camarillo, California, Salem Media Group is a prominent player in the American media landscape, offering a diverse array of platforms to engage its audience.
Core Business: The company operates in three primary segments: broadcasting, digital media, and publishing.
- Broadcasting: Salem owns and operates 112 radio stations, with 67 of these stations located in the nation’s top 25 markets and 30 in the top 10. Salem Radio Network, a subsidiary, syndicates talk, news, and music programming to approximately 2,600 affiliates.
- Digital Media: Salem Web Network is a leading provider of Christian content on the internet, offering online streaming and a rich portfolio of digital marketing opportunities. This segment focuses on engaging a wide audience through its multiple digital platforms.
- Publishing: Through Salem Publishing, the company publishes Christian-themed magazines and books, providing inspirational content to its readers.
Recent Achievements: Salem Media Group has consistently aimed to expand its reach and influence. The company has invested in digital transformation, ensuring its content is readily available across various digital platforms. This strategy has helped Salem maintain its relevance in a rapidly evolving media landscape.
Current Projects: Salem continues to innovate in both its broadcast and digital segments. Recent projects include the expansion of its podcast offerings and the enhancement of its digital streaming services. These initiatives are designed to cater to the growing demand for on-the-go and easily accessible content.
Financial Condition: Salem Media Group remains committed to maintaining a robust financial structure. The company focuses on strategic investments and partnerships to ensure sustainable growth. Despite the challenges posed by the media sector, Salem demonstrates resilience through its diversified business model.
Partnerships and Collaborations: The company collaborates with a variety of affiliates and partners to enhance content delivery and audience reach. These partnerships are integral to Salem's strategy to remain at the forefront of Christian and conservative media.
By leveraging its extensive network and diverse media properties, Salem Media Group aims to provide high-quality, value-driven content to its audience.
Salem Media Group, Inc. (NASDAQ: SALM) has successfully refinanced $112.8 million of its senior secured notes due 2024 by issuing new 7.125% Senior Secured Notes due 2028. The exchange increases total notes to $114.7 million, allowing only $103.5 million of the 2024 Notes outstanding. Additionally, commitments have been secured to purchase up to $50 million of further notes, contingent on performance benchmarks. CEO Edward G. Atsinger III expresses confidence in continued cash flow and the ability to manage outstanding debt.
Salem Media Group (NASDAQ: SALM) is launching the Daybreak Insider Daily Podcast on September 7, providing a conservative perspective on daily news. Hosted by Rich Thomason, the podcast aims to consolidate resources from Salem Radio News and other conservative outlets for a comprehensive news overview. The podcast complements the existing Daybreak Insider Newsletter, which has over 100,000 subscribers. Since its inception in 2021, the Salem Podcast Network has achieved significant success, being ranked the #13 podcast network in America by Triton Digital, with over 12 million downloads monthly.
Salem Media Group (NASDAQ: SALM) has elevated Jamie Cohen to Senior Vice President, Broadcast Digital, focusing on enhancing the company's digital operations. His promotion aims to unify local and national digital efforts and capitalize on opportunities to monetize digital assets. Dave Santrella, President of Broadcast Media, commended Cohen's achievements in building the company's digital enterprise. Cohen expressed optimism, highlighting the growth of platforms like Salem Now and the Salem Podcast Network, indicating a robust future for the company.
Salem Media Group (NASDAQ: SALM) announced that former Trump Campaign Attorney Jenna Ellis will join the Salem Podcast Network starting September 13th. Known for her constitutional law expertise, Ellis aims to provide analysis on cultural and legal issues from a Christian and conservative perspective. The network, which has seen rapid growth since its launch in January, ranks #12 on the Triton Digital national podcast network with 12-13 million monthly downloads. This addition is expected to enhance SPN's lineup of conservative voices.
Salem Media Group (Nasdaq: SALM) reported a 20.6% increase in Q2 2021 revenue at $63.8 million, compared to $52.9 million in Q2 2020. Operating income shifted to $5.6 million from an operating loss of $0.9 million. Year-to-date, total revenue rose 10.8% to $123.1 million, with net income of $2.6 million, versus a loss of $57.7 million in 2020. Broadcast and publishing segments showed significant growth, while digital media revenue increased 9.5%. Future projections for Q3 2021 suggest a 2%-4% revenue increase.
Salem Media Group (NASDAQ: SALM) will disclose its second quarter 2021 financial results on August 4, 2021, at 3:00 P.M. Central Time. A teleconference will follow at 4:00 P.M. Central Time, accessible via phone at (877) 524-8416 or through a webcast. A replay will be available until August 18, 2021.
Salem Media Group (NASDAQ: SALM) announced that Larry Elder, a national host on Salem Radio Network, is running for Governor of California. Consequently, Elder will be temporarily replaced by Carl Jackson on his radio show until the election on September 14th. Jackson, who currently hosts AM 950 The Answer in Orlando and has guest-hosted for Dennis Prager, brings a compelling background and a strong presence to the airwaves. If Elder loses the election, he will return to his regular show slot.
Salem Media Group announced a partnership with director Dinesh D’Souza for a documentary titled “Silenced,” focusing on the censorship of conservative views in America. Set for mid-2022 release, the film will explore how social media giants suppress dissenting opinions across various sectors, including education and the military. Featuring Salem talk hosts who have faced bans from platforms like Twitter and YouTube, the documentary aims to highlight the existential threat to free speech. Salem also operates SalemNow.com, providing a platform for content often silenced by mainstream media.
Salem Media Group (NASDAQ: SALM) has established the Salem Influencer Network, aimed at connecting brands with audiences through Christian social media influencers. This initiative responds to clients' growing demand for influencer representation in the advertising sector, particularly targeting the 18-34 age group. Influencer marketing is on the rise, with brands projected to spend $15 billion by 2022. Notable brands like CVS and Bose are already partnering with the network to reach a dedicated consumer base.
Salem Media Group (NASDAQ: SALM) announced the addition of Trish Regan to its podcast lineup, starting June 15th. In just six months, the Salem Podcast Network has reached the top 15 of U.S. podcast networks with over 2.5 million average weekly downloads. Regan, known for her work on Fox Business, will present her unique perspective on news and economy. Salem's senior VP praised Regan as a 'superstar in conservative media,' highlighting her potential to attract her extensive fan base.
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