Salem Announces Five Market Managers Doing Double Duty
Salem Media Group makes changes to its management structure in five markets as market managers currently leading other markets will now also oversee a new, additional market. The company says, “These changes provide some cost savings and will allow Salem’s most seasoned leaders to expand their impact on the performance of the company.” Terry Fahy, regional VP/GM for Los Angeles will now also oversee Oxnard; Steve Brodsky, GM for San Diego, will also manage Honolulu; Dennis Hayes, GM for Portland, will now oversee
Seattle as well; Kevin Isaacs, GM for Cleveland, will now also manage Pittsburgh; and Mark Durkin, regional VP/GM for Sacramento, will also manage Phoenix. This comes months after Carolyn Cassidy was assigned both Tampa and Columbus and John Gallagher began leading Chicago and Little Rock. Salem adds, “In some cases, the former GM will stay on in a sales/sales management role.” Company CEO David Santrella comments, “These changes were made to allow Salem to continue to innovate and invest in our business and to allow the very best leaders to oversee our radio stations.” Salem is also combining the sales efforts of Salem Media Reps and the Salem Web Network with the combined sales team reporting to Mike Reed and Mike DeAmicis at Salem Media Reps. Company COO David Evans adds, “This unified sales team will now have easier access to all digital assets within our company to more fully grow into a ‘One-World’ company that offers ministries, advertisers, and our audiences’ multiple platforms with which to consume content and reach communities.”
politically conservative news/talk formatted radio stations and media assets nationwide. Epperson was a longtime leader in Christian radio as a former member of the board of directors of the National Religious Broadcasters Association. In 2005, Time Magazine named him one of the 25 most influential evangelicals in America. Salem executive chairman Ed Atsinger comments, “Stuart will be greatly missed by many. I will miss him, but I take comfort in realizing that he is already receiving his reward for a life well-lived. A life that personifies the words of the Apostle Paul in 2 Timothy 4:7-8: ‘I have fought the good fight. I have finished the race. Now there Is in store for me the crown of righteousness, which the Lord, the righteous Judge, will award to me on that day and not only to me, but also to all who have longed for his appearing.’”
prior to the date of the notice. Salem now has a compliance period of 180 calendar days in which to regain compliance for the minimum bid price requirement. That expires on December 20, 2023. To regain compliance, the minimum bid price of the Common Stock must meet or exceed $1.00 per share for a minimum of 10 consecutive business days at any time prior to the compliance date. In its filing with the Securities and Exchange Commission, Salem says it intends to monitor the closing bid price of the Common Stock and may, if appropriate, consider implementing available options to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.
Last week I had the privilege of moderating a panel at the TALKERS conference. Confession: I listen to speech patterns and tones more than words.
News/Talk Radio in the Digital Era – Part 2.” The session, sponsored by “Our American Stories,” is introduced by Alex Fife, VP operations, Southeast, iHeartMedia – Total Traffic & Weather Network (pictured at right) and moderated by Walter Sabo, CEO, Sabo Media and host (Walter Sterling) of Sterling on Sunday (pictured above). Panelists (pictured below from left to right) include Dan Mandis, program director and host, WTN-FM, Nashville; Ross Kaminsky, host KOA, Denver; Phil Boyce, SVP, spoken word format, Salem Media Group/ops VP, New York region/WMCA/AM 970; Josh Leng, CEO, Talk Media Network; and Matt Meany, program director, WABC, New York/Red Apple Media. 
SalemNOW for rental or purchase. SalemNOW general manager Robert Ellis comments, “It’s a privilege to partner with The Epoch Times to offer their incredible film, LEAVING CALIFORNIA, on SalemNOW.” The film’s writer and producer Siyamak Khorrami 
comments, 
increased 17.4% to $67.7 million leading to an operating loss of $4.2 million as compared to operating income of $5 million posted in Q1 of 2022. Salem reports a net loss of $5.2 million, compared to Q1 2022’s net income of $1.7 million. Salem reports in three segments – Broadcast, Digital Media, and Publishing. Broadcast revenue for the quarter was $48.3 million (down 0.2%), Digital Media was $10.5 million (up 2%), and Publishing revenue was $4.6 million (up 19.7%). Looking ahead, the company is projecting total revenue to decline between 5% and 7% from the second quarter 2022 total revenue of $68.7 million and expects operating expenses to increase between 3% and 6% compared to Q2 of 2022. 
Tampa and Sarasota responsibilities. Salem Media Group regional VP Val Carolin comments, “As we worked to fill the big shoes that Barb Yoder has worn so effectively these past 12 years as general manager, we were thrilled to learn that Carolyn had a strong desire to return to her Florida roots and serve the communities in her home state. Carolyn has proven herself to be a tireless leader with a deep commitment to service. She’s a hard and smart worker who gets involved and gets things done. I’m confident that the dedication and the skills she possesses will prove to be a great fit for our strong Tampa/Sarasota operation.”
special show. Salem Tampa general manager Barb Yoder says, “When I read that Jack Harris regretted not having the opportunity to say goodbye to his fans at the end of his most recent morning show, it really touched my heart. I’ve been in broadcasting for many years as well and though he’s been on a competing radio station, I’ve always admired and respected him and the way he connects with the Tampa Bay community. So, to honor Jack we were going to devote one of our morning shows on ‘The Answer’ Tampa and Sarasota for a Jack Harris Tribute.” Salem is hosting another recently let go Tampa host as former “Q105” personality Mason Dixon will appear on its “Faith Talk” stations on “The Bill Bunkley Show” today (4/14) from 4:00 pm to 5:00 pm.
Harris tells the Tampa Bay Times that there is interest from other broadcasters but the six-month non-compete in his iHeart contract prevents him from working elsewhere right away. Harris says he didn’t get the chance to do a farewell show – something iHeartMedia West Florida president Chris Soechtig denies. Salem Media Group says it’s offered to host a farewell show on its crosstown news/talk WGUL “AM860 The Answer,” but also doesn’t want Harris to get into a legal tussle. 
additional 7.125% Senior Secured Notes due 2028 of the company (the “2028 Notes”), a portion of the proceeds of which was used to satisfy and discharge the Indenture relating to the 2024 Notes on March 20, 2023 and to complete the redemption on March 27, 2023. The additional 2028 Notes and the related guarantees were sold to certain existing holders of the company’s outstanding 2028 Notes whom the company believes to be qualified institutional buyers, in a private placement. The company believes that the completion of this refinancing will strengthen its balance sheet.
including physical and mental wellness, nutrition, positivity, and the motivation seniors and families need for leading healthy and active lifestyles. Chen says, “We hope to reach a wider audience and help shed more light on important topics regarding physical fitness, mental health, and wellness that matter most to seniors as we continue to roll out podcast episodes now and into the future. We’re proud to be a part of a great network of people who are like-minded and dedicated to providing the best content online for a demographic that we feel is underserved, and we are looking forward to helping that change.”
help retirees make sensible financial decisions in retirement. Armuth says, “Today’s investors deserve to know that investing is simple, affordable, and accessible to all! Collaborating with Senior Resource was a no-brainer for me because our missions are so similar. My podcast is dedicated to empowering and educating retirees on personal finance and investing, and Senior Resource helps me share this message with a broader audience. I’m thrilled to see my podcast has reached listeners from all across the country, and I remain steadfast in my commitment to giving real people the knowledge and tools they need to better understand investing and their finances in retirement.”
committee that he operates. This is the second such complaint filed by Illinois Democrats against Proft in the past four months. Proft co-hosts the “Chicago’s Morning Answer” program with Amy Jacobson on Salem Media Group’s news/talk WIND-AM, Chicago “560 The Answer.”
2022. Salem reports in segments and for the fourth quarter of 2022, net Broadcast revenue increased 4.5% to $53.3 million from $51 million in the same period in 2021. However, Digital media revenue decreased 10.3% to $10.4 million from $11.6 million in Q4 of 2021. The Publishing segment decreased 21.3% to $5.2 million from $6.5 million in the same period a year ago. For the full year of 2022, net Broadcast revenue increased 7.2% to $205.3 million from $191.4 million in 2021. Digital media revenue decreased 1.2% to $41.7 million from $42.2 million, and Publishing revenue decreased 18.9% to $20 million from $24.6 million in 2021. Looking ahead, Salem offers guidance for the first quarter of 2023, saying, “The company is projecting total revenue to be between flat and a decline of 2% from the first quarter 2022 total revenue of $62.6 million.”