Salem will confirm its expectation that Q3 revenue will increase 4-6% (over Q3 of 2010) while in New York City presenting at a conference. Is this a sign of a vibrant radio advertising heartbeat? Hard to tell. Salem has a diversified portfolio of media assets. The company has radio stations, print publications and Internet assets. And in its previous quarter while Salem reported a total revenue increase of 5.7%, net broadcast revenue was flat. Salem is projecting total revenue to increase 4% to 6% over third quarter 2010 total revenue of $51.4 million. In Q2 of this year Salem reported total revenue of $56.1 million.
Salem provides programming targeted at audiences interested in Christian and family-themed radio content. Upon completion of all announced transactions, the company will own and/or operate a national portfolio of 95 radio stations in 37 markets, including 59 stations in 22 of the top 25 markets. Salem executives will be in New York City next week to make a presentation at the Imperial Capital Global Opportunities Conference, just before that they'll make a stop over at the NASDAQ where they've been invited to ring the closing bell Wednesday.
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