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Thursday, Feb 2, 2023
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Salem Posts Loss for Q4

An impairment charge of $52 million on a number of its radio stations contributed to Salem Communications Inc. to post a net loss for the fourth quarter. The Camarillo-based media company reported a loss of $30.6 million, or $1.29 net loss per share, on revenues of $54.8 million for the quarter ending Dec. 31. For the same period in 2007, the company had net income of $200,000, or $0.01 per diluted share, on revenues of $58.5 million. For the full year, Salem reported a net loss of $33.1 million, or $1.40 net loss per share, on revenues of $220.7 million. For 2007, the company reported net income of $8.2 million, or $0.34 net income per diluted share, on revenues of $228.9 million. The quarter results included a 52.7 million impairment of goodwill related to the impairment of radio broadcasting licenses and goodwill in our Boston, Detroit, Cleveland, Louisville, Nashville, Tampa, Miami, Orlando, Sacramento, and Omaha markets. Mark R. Madler

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