11-5-13
Salem Communications reported revenue of $58.5 million in the quarter, an increase of 3.1 percent. Internet revenue was up 20 perdcent, publishing revenue increased 1.6 percent, and broadcast revenue was flat. Salem's 26 news/talk stations decreased 6 percent in revenue while 10 stations carrying the Business Talk format declined 2 percent. Seven Spanish-language stations were up 26 percent and Salem's 12 Contemporary Christian music stations increased revenue by 5 percent with strong results, specifically in Los Angeles and Dallas. Salem CEO Ed Atsinger said he was pleased with the company's performance in light of a lot of political business that was written in 2012. Salem is projecting Q4 to be flat to down 2 percent.