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Monday, Dec 4, 2023

2022 Public Company CFO of the Year (TIE): Evan Masyr

Evan Masyr
Executive Vice President & Chief Financial Officer
Salem Media Group, Inc.

Evan Masyr has been with Salem Media Group, Inc. for more than 22 years and has served as the chief financial officer since July 2007. Over that time period, he has been actively involved with transitioning the company from a pure play radio operator to a multimedia corporation, with approximately 30% of its revenue now coming from digital sources. 

During his time at Salem, Masyr has been involved with raising $1.8 billion in capital ($1.1 billion raised as CFO). He manages a team of more than 50 professionals, encompassing accounts payable, payroll, staff accounting, SEC reporting, investor relations, finance, treasury, risk management, internal audit and radio traffic. Over the years, Masyr has instituted many operational efficiencies and cost savings initiatives such as reducing the monthly closing process by 16 days, completing various tax reorganizations, instituting a corporate purchasing card program, and significantly improving the company’s cash management system. He also moved certain insurance lines to an offshore group captive insurance company, saving millions of dollars.

During the pandemic, he was able to effectively refinance almost $115 million of debt during these trying times. He also played a key role in guiding the company through the process of obtaining $11.2 million in PPP loans and then later getting the loans forgiven by the Small Business Administration. During 2021, the company sold almost $26 million in real estate while still being able to broadcast its radio programming. Through these efforts, Salem is now at its lowest debt and leverage levels since early 2000.


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