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SALM on NASDAQ

Salem Media Group

American radio broadcaster and media company

Salem Media Group, Inc. (formerly Salem Communications Corporation) is an American radio broadcaster, internet content provider, and magazine and book publisher based in Irving, Texas, targeting audiences interested in Christian values and what it describes as "family-themed content and conservative values". Salem Media Group owns 117 radio stations in 38 markets, including 60 stations in the top 25 markets and 29 in the top 10, making it tied with Audacy for the fifth-largest radio broadcaster.3 Its shares trade on NASDAQ under the symbol SALM.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

$267.0MRevenue, fiscal 20225
-$3.2MNet income, fiscal 20225
1972Founded1

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  • TickerSALM on NASDAQ1
  • Industrymass media, radio broadcasting1
  • HeadquartersCamarillo1
  • Websitewww.salem.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address6400 North Belt Line Road, Irving, Tx 750636
  • Filer categoryNon-accelerated filer, Smaller reporting company6
  • LEI549300CTHBTS2MIXZL544
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressC/O Corporation Service Company, 19808 Wilmington, United States4

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Salem Media Group, Inc. (formerly Salem Communications Corporation) is an American radio broadcaster, internet content provider, and magazine and book publisher based in Irving, Texas, targeting audiences interested in Christian values and what it describes as "family-themed content and conservative values".3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

1.9%Operating margin5
-1.2%Net margin5
3.4%Revenue growth, 20225
-1.8%Return on equity5
0.86×Debt to equity5

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Other costs95¢$253.5M
  • Interest5¢$13.1M
  • Income tax0¢$392.0K

Out of $267.0M in revenue.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2022

  • Kept or used elsewhere100¢$7.7M

Out of $7.7M of cash from operations.5

Financial statements

Revenue891011125$267.0M in 2022+0% since 2015
0$100.0M$200.0M$300.0M2015: $265.8M$265.8M20152016: $274.3M$274.3M2016+3%2017: $263.7M$263.7M2017−4%2018: $262.8M$262.8M2018−0%2019: $253.9M$253.9M2019−3%2020: $236.2M$236.2M2020−7%2021: $258.2M$258.2M2021+9%2022: $267.0M$267.0M2022+3%
Operating income891011125$5.2M in 2022−84% since 2015
-$20.0M0$20.0M$40.0M$60.0M2015: $33.0M$33.0M20152016: $28.1M$28.1M2016−15%2017: $23.0M$23.0M2017−18%2018: $17.0M$17.0M2018−26%2019: -$8.2M-$8.2M20192020: -$7.8M-$7.8M2020−5%2021: $46.2M$46.2M20212022: $5.2M$5.2M2022−89%
Net income891011125-$3.2M in 2022
-$75.0M-$50.0M-$25.0M0$25.0M$50.0M2015: $11.2M$11.2M20152016: $8.9M$8.9M2016−20%2017: $24.6M$24.6M2017+178%2018: -$3.2M-$3.2M20182019: -$27.8M-$27.8M2019+772%2020: -$54.1M-$54.1M2020+94%2021: $41.5M$41.5M20212022: -$3.2M-$3.2M2022
Fiscal year20152016201720182019202020212022
Revenue$265.8M8$274.3M8$263.7M9$262.8M10$253.9M11$236.2M12$258.2M5$267.0M5
Operating expenses$212.0M5$261.8M5
Operating income$33.0M8$28.1M8$23.0M9$17.0M10-$8.2M11-$7.8M12$46.2M5$5.2M5
Interest$15.4M8$14.9M8$16.7M9$18.3M10$17.5M11$16.1M12$15.8M5$13.1M5
Income before tax$40.8M5-$3.6M5
Income tax$6.7M8$4.6M8-$20.9M9$2.5M10$4.0M11$30.3M12-$759.0K5-$392.0K5
Net income$11.2M8$8.9M8$24.6M9-$3.2M10-$27.8M11-$54.1M12$41.5M5-$3.2M5
Earnings per share$0.438$0.348$0.949-$0.1210-$1.0511-$2.0312$1.545-$0.125
Earnings per share (diluted)$0.438$0.348$0.949-$0.1210-$1.0511-$2.0312$1.525-$0.125
Shares (weighted, basic)26.9M shares527.2M shares5
Shares (weighted, diluted)27.3M shares527.2M shares5

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Corporate structure

Salem Media Group sits at the top of its group. 7 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Salem Media Group

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Salem Media Group reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$236.0M5 Dec 31, 2022$230.4M5 Dec 31, 2021+2.4%
Accumulated depreciation$191.6M5 Dec 31, 2022$186.1M5 Dec 31, 2021+3.0%
Property and equipment, net$81.3M5 Dec 31, 2022$79.3M5 Dec 31, 2021+2.5%
Finance-lease assets$63.0K5 Dec 31, 2022$105.0K5 Dec 31, 2021−40.0%
Operating-lease assets (leased space)$43.7M5 Dec 31, 2022$43.6M5 Dec 31, 2021+0.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$05 Dec 31, 2022$1.8M5 Dec 31, 2021−100.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$24.1M5 Dec 31, 2022$24.0M5 Dec 31, 2021+0.4%
Accumulated amortization$59.4M5 Dec 31, 2022$58.1M5 Dec 31, 2021+2.2%
Finite-lived intangibles, net$2.1M5 Dec 31, 2022$2.4M5 Dec 31, 2021−12.1%

Inventory

ItemLatestA year beforeChange
Inventory, total$1.5M5 Dec 31, 2022$960.0K5 Dec 31, 2021+57.6%

Stakes and holdings (Wikidata)

Things Wikidata records the company as owning, with the share when stated.1

The story

In 1974, Atsinger (chief executive officer) and Epperson (chairman of the board) combined their radio assets to create Salem Communications. Beginning with stations in North Carolina and California, Atsinger and Epperson purchased station properties in Boston, San Antonio, New York City, San Francisco, Portland, Los Angeles and other markets, converting them to Christian talk stations. In the late 1980s and early 1990s, they expanded formats to include contemporary Christian music (with most stations under this format branded as "The Fish"), news talk (branded as "The Answer"), Spanish-language Christian content, and business programming.

Many of Salem's stations are licensed to subsidiaries, organized by geographical area and media cluster as the company has acquired new stations and their previous licensees.

Salem Communications Corp acquired Twitter curation site, Twitchy.com. In January 2014, the company announced the acquisition of the assets of Eagle Publishing, including Regnery Publishing, Human Events, and RedState, and sister companies Eagle Financial Publications and Eagle Wellness.

On February 23, 2015, Salem Communications changed its name to Salem Media Group.

In 2015, Salem Media Group expanded their digital platform with acquisitions of several businesses and assets, including DividendYieldHunter.com, Stockinvestor.com; DividendInvestor.com, a Spanish Bible mobile app, along with its related website and Facebook properties; the DailyBible mobile app; the Daily Bible Devotion mobile app; and also, Bryan Perry's Newsletters.

In 2016, Salem Media Group continued to expand by acquiring the websites ChristianConcertAlerts.com, Historyonthenet.com and Authentichistory.com; as well as Mike Turner's line of investment products, including TurnerTrends.com; the Retirement Watch newsletter and website, Retirementwatch.com; and the King James Bible mobile application. Salem Media Group also acquired Mill City Press from Hillcrest Publishing Group, Inc.

In July 2017, Salem Media Group merged DividendYieldHunter.com and transferred all content into DividendInvestor.com.

In March 2019, political writer Raheem Kassam and lawyer Will Chamberlain purchased Human Events from Salem Media Group for $300,000.

Read the full text

In early 2021, the company moved most operations from the former main operations city of Camarillo, California to Irving, Texas, the same location of their long-owned radio station KLTY.

On November 8, 2023, Salem exited the Upstate market after it sold WGTK in Greenville, South Carolina and the Earth FM stations to the Educational Media Foundation, resulting in WGTK switching to the K-Love network and WRTH and WLTE switching to Air1 several days before.

In December 2024, it was announced that the company had sold all remaining Christian Contemporary stations to the Educational Media Foundation. The move was intended to help the company repay debt to investors. Educational Media Foundation began operating the stations on February 1, 2025.

In April 2025, Salem Media signed a deal with Donald Trump Jr. and Lara Trump that will see them both become stakeholders in the company. Salem Media acquired a 30 percent stake in MxM News, a mobile news aggregation app that is co-owned by Donald Trump Jr. In May 2026, the company was acquired by The Christian Community Foundation, Inc., doing business as WaterStone.

From Wikipedia’s article on Salem Media Group, shared under CC BY-SA 4.0.7

Leadership

Who has led Salem Media Group, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Edward G. Atsinger Iii.2006–2023
  2. Joe D. Davis2010
  3. David P. Santrella2022–2023

Chair

  1. Stuart Epperson2006–2020

President

  1. Edward G. Atsinger Iii.2006–2007
  2. Eric H. Halvorson2007–2008
  3. Joe D. Davis2009
  4. David P. Santrella2010–2021
  5. Francis W. Wright2014

Chief financial officer

  1. Evan D. Masyr2008–2023

Chief operating officer

  1. Joe D. Davis2006–2007
  2. Eric H. Halvorson2007–2008
  3. Francis W. Wright2014
19801990200020102020
Board members and other officers (18)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerDavid D. Evans named Apr 15, 2025 to Apr 23, 202544
  • DirectorJames B. Renacci named Apr 23, 202544
  • DirectorRichard A. von Gnechten named Apr 23, 202544

Products and brands

Salem Radio Network

Salem Radio Network is a satellite radio network serving general market News/Talk stations and Christian-formatted stations through affiliate partnerships serving more than 2,700 radio stations.

The five major divisions are SRN Talk, SRN News, Salem Music Network, Salem Media Reps and Vista Media Reps and SRN Satellite Services.

SRN Talk produces general market News/Talk shows featuring nationally syndicated hosts Hugh Hewitt, Mike Gallagher, Dennis Prager, Sebastian Gorka, Brandon Tatum, and Charlie Kirk. It also produces Christian market programming featuring The Eric Metaxas Show.

SRN News is a news source for conservative and Christian radio serving over 2,000 affiliates, and stations also take newscast branded by Salem's Townhall.com.

Read the full text

The Salem Music Network has three satellite offerings – Contemporary Christian, Praise and Southern Gospel.

Salem Media Reps specializes in Christian, family-themed and conservative media, radio, online, print and mobile.

SRN Satellite Services provides satellite distribution and production services to over 70 organizations and ministries.

The satellite feed for Salem's general market programming can be heard on the CRN Digital Talk Radio Networks, on CRN3.

Salem Author Services

Under the umbrella of Salem Author Service are Xulon Press, Mill City Press, and the websites Bookprinting.com, Bookediting.com, Publishgreen.com, and Libertyhill.com.

Xulon Press

Xulon Press (pronounced "zoo-lon") is a hybrid publisher owned by the Salem Media Group. In 2007 it claimed to be "the largest publisher of Christian books in North America", claiming more than 3,900 print-on-demand titles published by 2007. As of 2022, the website claimed Xulon Press published over 15,000 unique book titles and that more than a million copies of its books had been printed and sold. Its titles are mainly in the categories of Christian living, theology, church growth, discipleship, Bible studies, fiction, poetry, biographies, and others. For a fixed fee the press will publish an author's finished manuscript in paperback, hard cover, and electronic form. Once published, customers may order the book directly from online retailers, and retailers may order the book through distributors. According to their company contact page, the Xulon Press office is located in Maitland, Florida, United States.

Founded in 2000 by Christian author and publisher Tom Freiling. The company was originally incorporated in Virginia in May 2001 and then moved to Florida in May 2002. The principal "place of business" was still listed as Fairfax, Virginia until 2005, when the physical address was moved to Longwood, Florida. Xulon Press was bought in 2006 and is now a part of Salem Media Group. In 2016, Salem Media bought a Minneapolis, Minnesota, US-based self-publishing company Hillcrest Media and merged it with Xulon Press.

From Wikipedia’s article on Salem Media Group, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Subsidiaries

Also owns

From Wikidata.1

Former names

  • SALEM COMMUNICATIONS CORP /DE/Dec 8, 1997 to Feb 13, 20156

Timeline

  1. Jan 25, 20248-K Entered a material agreement45
  2. Dec 29, 20238-K Listing notice or transfer46
  3. Dec 27, 20238-K Entered a material agreement; Ended a material agreement; New debt or obligation47
  4. Dec 1, 20238-K Entered a material agreement48
  5. Nov 13, 20238-K Results of operations; Regulation FD disclosure49
  6. Nov 3, 20238-K Entered a material agreement50
  7. Oct 4, 20238-K Entered a material agreement; Other events51
  8. Sep 29, 20238-K Entered a material agreement52
  9. Sep 1, 20238-K Entered a material agreement53
  10. Aug 11, 20238-K Entered a material agreement54
  11. Aug 8, 20238-K Results of operations; Regulation FD disclosure55
  12. Jun 23, 20238-K Listing notice or transfer56
  13. Jan 4, 2022New chief executive David P. Santrella becomes CEO17
  14. Mar 10, 2010New chief executive Joe D. Davis becomes CEO18
  15. Mar 17, 2006New chief executive Edward G. Atsinger Iii. becomes CEO19
  16. Jul 1, 1999Went public Listed on NASDAQ1
  17. 1972Founded Founded1

Calendar

When it reported results

  1. Nov 13, 2023Reported quarterly or annual results49
  2. Aug 8, 2023Reported quarterly or annual results55
  3. May 9, 2023Reported quarterly or annual results57
  4. Mar 8, 2023Reported quarterly or annual results58
  5. Nov 3, 2022Reported quarterly or annual results59
  6. Aug 4, 2022Reported quarterly or annual results60
  7. May 10, 2022Reported quarterly or annual results61
  8. Mar 3, 2022Reported quarterly or annual results62

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

94 filings to the SEC since October 2021: 2 annual reports, 7 quarterly reports, 28 major events, 28 insider forms, 1 large holders, 3 private raises, 25 other. The latest 20:

  1. Apr 23, 2025D EDGAR
  2. Apr 23, 2025D EDGAR
  3. Apr 15, 2025D EDGAR
  4. Feb 9, 202415-12G EDGAR
  5. Jan 29, 2024EFFECT EDGAR
  6. Jan 25, 20248-K EDGAR
  7. Jan 19, 2024S-8 POS EDGAR
  8. Jan 19, 2024S-8 POS EDGAR
  9. Jan 19, 2024S-8 POS EDGAR
  10. Jan 19, 2024S-8 POS EDGAR
  11. Jan 19, 2024S-8 POS EDGAR
  12. Jan 19, 2024POS AM EDGAR
  13. Jan 8, 202425 EDGAR
  14. Dec 29, 20238-K EDGAR
  15. Dec 27, 20238-K EDGAR
  16. Dec 1, 20238-K EDGAR
  17. Nov 13, 202310-Q EDGAR
  18. Nov 13, 20238-K EDGAR
  19. Nov 3, 20238-K EDGAR
  20. Oct 4, 20238-K EDGAR

The 94 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

5 open-market trades by officers, directors and large owners since October 2021: 0 buys and 5 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 9, 2021MASYR EVAN DEVP & CFOSale76,750$4.15$318.8KForm 4
Nov 9, 2021Santrella David PChief Executive OfficerSale30,000$4.05$121.5KForm 4
Nov 8, 2021Santrella David PChief Executive OfficerSale40,000$4.06$162.4KForm 4
Oct 22, 2021Henderson Christopher JEVP, General Counsel & SecySale6,250$5.61$35.1KForm 4
Oct 1, 2021Henderson Christopher JEVP, General Counsel & SecySale51,650$4.13$213.3KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$1.2M 2025–2025
Money received by yearMoney received by year, 2025–2025: $1.2M in all. Private raises (Form D) $1.2M.$0$500K$1M$1.5M2025 · Private raises (Form D): $1.2M2025
Figures by year
YearPrivate raises (Form D)Total
2025$1.2M$1.2M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Apr 8, 2025Raised $600,000 in a private offering of equity44 Form D: 1 investor so far Form D
  2. Apr 7, 2025Raised $382,500 in a private offering of equity64 Form D: 1 investor so far Form D
  3. Apr 1, 2025Raised $265,000 in a private offering of equity65 Form D: 1 investor so far Form D

SEC filer profile

How Salem Media Group is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSALEM MEDIA GROUP, INC. /DE/2
  • CIK0001050606
  • Employer ID (EIN)77-01214002
  • Filer statusNon-accelerated filer<br>smaller reporting company2
  • Incorporated inDelaware2
  • Fiscal year endsDecember 312
  • Industry code (SIC)4832 Radio Broadcasting Stations2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address6400 North Belt Line Road, Irving, TX 750632
  • Phone80598704002
  • Public float$26.1M as of Jun 30, 20225
  • On EDGAR sinceDec 8, 19972
  • Filings1,031 in all: 4 (422), 8-K (243), 10-Q (75), SC 13G/A (46), 10-K (24), DEF 14A (24), SC 13D/A (18), SC 13G (16)2
    All 42 form types

    5 (15), DEFA14A (15), 3 (14), UPLOAD (14), CORRESP (13), 4/A (10), 11-K (8), 8-K/A (8), S-8 (6), S-8 POS (6), EFFECT (5), S-4/A (5), SC 13D (5), S-3 (4), 10-K/A (3), 10-Q/A (3), D (3), S-4 (3), 424B2 (2), 424B3 (2), 424B5 (2), ARS (2), PRE 14A (2), S-1/A (2), S-3/A (2), 15-12G (1), 25 (1), 424B4 (1), 8-A12G (1), NT 10-K (1), NT 11-K (1), POS AM (1), S-1 (1), S-1MEF (1)

  • Latest filingsAnnual report (10-K) Mar 13, 2023
    Quarterly report (10-Q) Nov 13, 2023
    Proxy statement (DEF 14A) Apr 3, 2023
    Latest 8-K (8-K) Jan 25, 2024

Sources

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