Key Financial Data
- Q2 Total net revenue: $45.9 million (-15.2% year-over)
- Political advertising revenue: $1.3 million (+110%)
- Selling, general and administrative expenses: $40.2 million (-21.5%)
- Total operating expenses: $50.3 million (-34.2%)
- Operating loss: $4.4 million, compared with a loss of $22.3 million
- Broadcast license impairment charge: $4.8 million (-80.9%)
- Read more Q2 2026 earnings coverage | Salem Media coverage
Salem Media Group managed to narrow its financial loss during the second quarter (Q2) of the year as the right-of-center broadcaster prepares to sell itself to a Christian non-profit foundation, which is expected to take the company private.
The company reported net revenue of $45.9 million for the quarter, down from $54.2 million in the same period last year. Salem’s net loss improved to $3.4 million, or 11 cents per share, compared with a net loss of $17.6 million, or 55 cents per share, in the prior-year quarter.
The narrower loss was largely tied to a lower non-cash impairment charge. Salem recorded a $4.8 million impairment charge in the second quarter of 2026, compared with a $25.2 million impairment charge in the second quarter of 2025.
General operating expenses also declined, falling to $40.2 million from $51.2 million a year earlier.
Earlier this year, Salem’s board and shareholders approved the company’s sale to the non-profit organization WaterStone for $1 per share. Regulatory approval remains the final major condition before the transaction can close. Salem still expects the deal to close this month; if completed on that timeline, the second-quarter results could be among the company’s final publicly released earnings reports.
Meanwhile, the company continues to explore cost cuts where it can. In March, The Desk reported Salem Media listed its corporate headquarters for sale and will instead become a tenant on the first floor of the office space. The broadcaster also stopped using a private jet that was rented from a company tied to its former CEO.
Salem operates Christian-themed and conservative spoken word audio brands, including radio stations, digital properties and other media assets. The move to private ownership would end the company’s long run as a publicly traded media company and place it under the ownership of a non-profit foundation aligned with a Christian-focused mission. It wasn’t clear if WaterStone planned any programming changes as a result of the acquisition.
