Salem Media Q2 Revenue Down 15.2%; Net Loss Narrows Significantly
Salem Media is a company in transition as it prepares to go private after a deal to be acquired by WaterStone was announced in May. That deal has WaterStone acquiring all outstanding shares of Salem Media common stock for $1.00 per share, representing approximately a 250% premium over Salem’s recent trading price. 
For the second quarter of 2026, Salem’s net revenue was $45.9 million, a decrease of 15.2% from the same period in 2025. On the plus side, Salem’s net loss for the quarter was $3.4 million, a dramatic 81% decline from the $17.6 million net loss it reported a year ago. By segment for the quarter, Salem’s broadcast advertising revenue was $17.85 million, a dip of 11.3% compared to Q2 of 2025; broadcast programming revenue was $34.3 million, a decline of 6.3%; and digital revenue was $32.7 million, a decrease of 12.5%.
2025. Looking at Salem’s business segments, the company reports Broadcast Programming Revenue (from local and national block programming) of $17.2 million in Q1 of 2026, while Broadcast Advertising Revenue (national & local spot, network advertising) was $9.27 million during the quarter. Meanwhile, Salem’s total digital revenue for the period was $18.1 million. Salem Media announced this week that it is in the process of being acquired by WaterStone in a stock purchase deal that will take the company private.