<\/p>\n
\nSalem Media Group, Inc. Announces Third Quarter 2020 Total Revenue of $60.6 Million\n<\/p>\n
CAMARILLO, Calif.–(BUSINESS WIRE<\/a>)– Third Quarter 2020 Highlights<\/b><\/p>\n Third Quarter 2020 Results<\/b><\/p>\n \nFor the quarter ended September 30, 2020 compared to the quarter ended September 30, 2019:\n<\/p>\n Consolidated<\/span><\/p>\n Broadcast<\/span><\/p>\n Digital Media<\/span><\/p>\n Publishing<\/span><\/p>\n \nIncluded in the results for the quarter ended September 30, 2020 are:\n<\/p>\n \nIncluded in the results for the quarter ended September 30, 2019 are:\n<\/p>\n \nPer share numbers are calculated based on 26,791,353 diluted weighted average shares for the quarter ended September 30, 2020, and 26,616,696 diluted weighted average shares for the quarter ended September 30, 2019.\n<\/p>\n Year to Date 2020 Results<\/b><\/p>\n \nFor the nine months ended September 30, 2020 compared to the nine months ended September 30, 2019:\n<\/p>\n Consolidated<\/span><\/p>\n Broadcast<\/span><\/p>\n Digital media<\/span><\/p>\n Publishing<\/span><\/p>\n \nIncluded in the results for the nine months ended September 30, 2020 are:\n<\/p>\n \nIncluded in the results for the nine months ended September 30, 2019 are:\n<\/p>\n \nPer share numbers are calculated based on 26,683,363 diluted weighted average shares for the nine months ended September 30, 2020, and 26,442,791 diluted weighted average shares for the nine months ended September 30, 2019.\n<\/p>\n Balance Sheet<\/b><\/p>\n \nAs of September 30, 2020, the company had $216.3 million outstanding on the 6.75% senior secured notes due 2024 (the \u201cNotes\u201d) and $16.6 million outstanding on the Asset Based Revolving Credit Facility (\u201cABL Facility\u201d).\n<\/p>\n Acquisitions and Divestitures<\/b><\/p>\n \nThe following transactions were completed since July 1, 2020:\n<\/p>\n Pending transactions:<\/b><\/p>\n Conference Call Information <\/b><\/p>\n \nSalem will host a teleconference to discuss its results on November 12, 2020 at 2:00 p.m. Pacific Time. To access the teleconference, please dial (877) 524-8416, and then ask to be joined into the Salem Media Group Third Quarter 2020 call or listen via the investor relations portion of the company\u2019s website, located at investor.salemmedia.com<\/a>. A replay of the teleconference will be available through November 26, 2020 and can be heard by dialing (877) 660-6853, passcode 13708311 or on the investor relations portion of the company\u2019s website, located at investor.salemmedia.com<\/a>.\n<\/p>\n \nFollow us on Twitter @SalemMediaGrp.\n<\/p>\n A reconciliation of non-GAAP operating expenses, excluding gains or losses on the disposition of assets, stock-based compensation expense, changes in the estimated fair value of contingent earn-out consideration, impairments, depreciation expense and amortization expense to the most directly comparable GAAP measure is not available without unreasonable efforts on a forward-looking basis due to the potential high variability, complexity and low visibility with respect to the charges excluded from this non-GAAP financial measure, in particular, the change in the estimated fair value of earn-out consideration, impairments and gains or losses from the disposition of fixed assets. The company expects the variability of the above charges may have a significant, and potentially unpredictable, impact on its future GAAP financial results.<\/i><\/p>\n About Salem Media Group, Inc. <\/b><\/p>\n \nSalem Media Group is America\u2019s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc., at www.salemmedia.com<\/a>, Facebook and Twitter (@SalemMediaGrp).\n<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nStatements used in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those anticipated as a result of certain risks and uncertainties, including but not limited to the ability of Salem to close and integrate announced transactions, market acceptance of Salem\u2019s radio station formats, competition from new technologies, adverse economic conditions, and other risks and uncertainties detailed from time to time in Salem’s reports on Forms 10-K, 10-Q, 8-K and other filings filed with or furnished to the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Salem undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.\n<\/p>\n (1)<\/b><\/p>\n<\/td>\n Regulation G<\/b><\/p>\n<\/td>\n<\/tr>\n Management uses certain non-GAAP financial measures defined below in communications with investors, analysts, rating agencies, banks and others to assist such parties in understanding the impact of various items on its financial statements. The company uses these non-GAAP financial measures to evaluate financial results, develop budgets, manage expenditures and as a measure of performance under compensation programs. <\/i><\/p>\n<\/td>\n<\/tr>\n The company\u2019s presentation of these non-GAAP financial measures should not be considered as a substitute for or superior to the most directly comparable financial measures as reported in accordance with GAAP. <\/i><\/p>\n<\/td>\n<\/tr>\n Regulation G defines and prescribes the conditions under which certain non-GAAP financial information may be presented in this earnings release. The company closely monitors EBITDA, Adjusted EBITDA, Station Operating Income (\u201cSOI\u201d), Same Station net broadcast revenue, Same Station broadcast operating expenses, Same Station Operating Income, Digital Media Operating Income, Publishing Operating Income (Loss), and operating expenses excluding gains or losses on the disposition of assets, stock-based compensation, changes in the estimated fair value of contingent earn-out consideration, impairments, depreciation and amortization, all of which are non-GAAP financial measures. The company believes that these non-GAAP financial measures provide useful information about its core operating results, and thus, are appropriate to enhance the overall understanding of its financial performance. These non-GAAP financial measures are intended to provide management and investors a more complete understanding of its underlying operational results, trends and performance. <\/i><\/p>\n<\/td>\n<\/tr>\n The company defines Station Operating Income (\u201cSOI\u201d) as net broadcast revenue minus broadcast operating expenses. The company defines Digital Media Operating Income as net Digital Media Revenue minus Digital Media Operating Expenses. The company defines Publishing Operating Income (Loss) as net Publishing Revenue minus Publishing Operating Expenses. The company defines EBITDA as net income before interest, taxes, depreciation, and amortization. The company defines Adjusted EBITDA as EBITDA before gains or losses on the disposition of assets, before changes in the estimated fair value of contingent earn-out consideration, before impairments, before net miscellaneous income and expenses, before gain on bargain purchase, before (gain) loss on early retirement of long-term debt and before non-cash compensation expense. SOI, Digital Media Operating Income, Publishing Operating Income (Loss), EBITDA and Adjusted EBITDA are commonly used by the broadcast and media industry as important measures of performance and are used by investors and analysts who report on the industry to provide meaningful comparisons between broadcasters. SOI, Digital Media Operating Income, Publishing Operating Income (Loss), EBITDA and Adjusted EBITDA are not measures of liquidity or of performance in accordance with GAAP and should be viewed as a supplement to and not a substitute for or superior to its results of operations and financial condition presented in accordance with GAAP. The company\u2019s definitions of SOI, Digital Media Operating Income, Publishing Operating Income (Loss), EBITDA and Adjusted EBITDA are not necessarily comparable to similarly titled measures reported by other companies. <\/i><\/p>\n<\/td>\n<\/tr>\n The company defines Adjusted Free Cash Flow as Adjusted EBITDA less cash paid for capital expenditures, less cash paid for income taxes, and less cash paid for interest. The company considers Adjusted Free Cash Flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by its operations after cash paid for capital expenditures, cash paid for income taxes and cash paid for interest. A limitation of Adjusted Free Cash Flow as a measure of liquidity is that it does not represent the total increase or decrease in its cash balance for the period. The company uses Adjusted Free Cash Flow, a non-GAAP liquidity measure, both in presenting its results to stockholders and the investment community, and in its internal evaluation and management of the business. The company\u2019s presentation of Adjusted Free Cash Flow is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. The company\u2019s definition of Adjusted Free Cash Flow is not necessarily comparable to similarly titled measures reported by other companies. <\/i><\/p>\n<\/td>\n<\/tr>\n The company defines Same Station net broadcast revenue as broadcast revenue from its radio stations and networks that the company owns or operates in the same format on the first and last day of each quarter, as well as the corresponding quarter of the prior year. The company defines Same Station broadcast operating expenses as broadcast operating expenses from its radio stations and networks that the company owns or operates in the same format on the first and last day of each quarter, as well as the corresponding quarter of the prior year. The company defines Same Station SOI as Same Station net broadcast revenue less Same Station broadcast operating expenses. Same Station operating results include those stations that the company owns or operates in the same format on the first and last day of each quarter, as well as the corresponding quarter of the prior year. Same Station operating results for a full calendar year are calculated as the sum of the Same Station-results for each of the four quarters of that year. The company uses Same Station operating results, a non-GAAP financial measure, both in presenting its results to stockholders and the investment community, and in its internal evaluations and management of the business. The company believes that Same Station operating results provide a meaningful comparison of period over period performance of its core broadcast operations as this measure excludes the impact of new stations, the impact of stations the company no longer owns or operates, and the impact of stations operating under a new programming format. The company\u2019s presentation of Same Station operating results is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. The company\u2019s definition of Same Station operating results is not necessarily comparable to similarly titled measures reported by other companies. <\/i><\/p>\n<\/td>\n<\/tr>\n For all non-GAAP financial measures, investors should consider the limitations associated with these metrics, including the potential lack of comparability of these measures from one company to another. <\/i><\/p>\n<\/td>\n<\/tr>\n The Supplemental Information tables that follow the condensed consolidated financial statements provide reconciliations of the non-GAAP financial measures that the company uses in this earnings release to the most directly comparable measures calculated in accordance with GAAP. The company uses non-GAAP financial measures to evaluate financial performance, develop budgets, manage expenditures, and determine employee compensation. The company\u2019s presentation of this additional information is not to be considered as a substitute for or superior to the directly comparable measures as reported in accordance with GAAP.<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n Salem Media Group, Inc.<\/b><\/p>\n<\/td>\n<\/tr>\n Condensed Consolidated Statements of Operations<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands, except share and per share data)<\/b><\/p>\n<\/td>\n<\/tr>\n Three Months Ended<\/b><\/p>\n<\/td>\n Nine Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n September 30,<\/b><\/p>\n<\/td>\n September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n 2019<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2019<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/i><\/p>\n<\/td>\n<\/tr>\n \nNet broadcast revenue\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n47,679\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n 45,391<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n142,854\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n 130,041<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet digital media revenue\n<\/p>\n<\/td>\n \n9,149\n<\/p>\n<\/td>\n 9,808<\/b><\/p>\n<\/td>\n \n29,349\n<\/p>\n<\/td>\n 28,355<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet publishing revenue\n<\/p>\n<\/td>\n \n7,288\n<\/p>\n<\/td>\n 5,442<\/b><\/p>\n<\/td>\n \n17,062\n<\/p>\n<\/td>\n 13,366<\/b><\/p>\n<\/td>\n<\/tr>\n \nTotal revenue\n<\/p>\n<\/td>\n \n64,116\n<\/p>\n<\/td>\n 60,641<\/b><\/p>\n<\/td>\n \n189,265\n<\/p>\n<\/td>\n 171,762<\/b><\/p>\n<\/td>\n<\/tr>\n \nOperating expenses:\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nBroadcast operating expenses\n<\/p>\n<\/td>\n \n37,310\n<\/p>\n<\/td>\n 34,283<\/b><\/p>\n<\/td>\n \n111,466\n<\/p>\n<\/td>\n 104,704<\/b><\/p>\n<\/td>\n<\/tr>\n \nDigital media operating expenses\n<\/p>\n<\/td>\n \n7,282\n<\/p>\n<\/td>\n 7,144<\/b><\/p>\n<\/td>\n \n22,988\n<\/p>\n<\/td>\n 23,123<\/b><\/p>\n<\/td>\n<\/tr>\n \nPublishing operating expenses\n<\/p>\n<\/td>\n \n6,517\n<\/p>\n<\/td>\n 5,814<\/b><\/p>\n<\/td>\n \n17,112\n<\/p>\n<\/td>\n 16,443<\/b><\/p>\n<\/td>\n<\/tr>\n \nUnallocated corporate expenses\n<\/p>\n<\/td>\n \n4,183\n<\/p>\n<\/td>\n 3,849<\/b><\/p>\n<\/td>\n \n12,386\n<\/p>\n<\/td>\n 11,909<\/b><\/p>\n<\/td>\n<\/tr>\n \nChange in the estimated fair value of contingent earn-out consideration\n<\/p>\n<\/td>\n \n(40)\n<\/p>\n<\/td>\n (10)<\/b><\/p>\n<\/td>\n \n(40)\n<\/p>\n<\/td>\n (12)<\/b><\/p>\n<\/td>\n<\/tr>\n \nImpairment of indefinite-lived long-term assets other than goodwill\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,915\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,915\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 17,254<\/b><\/p>\n<\/td>\n<\/tr>\n \nImpairment of goodwill\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 307<\/b><\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization\n<\/p>\n<\/td>\n \n3,891\n<\/p>\n<\/td>\n 3,428<\/b><\/p>\n<\/td>\n \n12,096\n<\/p>\n<\/td>\n 10,686<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet (gain) loss on the disposition of assets\n<\/p>\n<\/td>\n \n17,545\n<\/p>\n<\/td>\n 1,381<\/b><\/p>\n<\/td>\n \n21,212\n<\/p>\n<\/td>\n 1,494<\/b><\/p>\n<\/td>\n<\/tr>\n \nTotal operating expenses\n<\/p>\n<\/td>\n \n78,603\n<\/p>\n<\/td>\n 55,889<\/b><\/p>\n<\/td>\n \n199,135\n<\/p>\n<\/td>\n 185,908<\/b><\/p>\n<\/td>\n<\/tr>\n \nOperating income (loss)\n<\/p>\n<\/td>\n \n(14,487)\n<\/p>\n<\/td>\n 4,752<\/b><\/p>\n<\/td>\n \n(9,870)\n<\/p>\n<\/td>\n (14,146)<\/b><\/p>\n<\/td>\n<\/tr>\n \nOther income (expense):\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nInterest income\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n 1<\/b><\/p>\n<\/td>\n \n1\n<\/p>\n<\/td>\n 1<\/b><\/p>\n<\/td>\n<\/tr>\n \nInterest expense\n<\/p>\n<\/td>\n \n(4,410)\n<\/p>\n<\/td>\n (4,024)<\/b><\/p>\n<\/td>\n \n(13,206)\n<\/p>\n<\/td>\n (12,069)<\/b><\/p>\n<\/td>\n<\/tr>\n \nGain on early retirement of long-term debt\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n426\n<\/p>\n<\/td>\n 49<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet miscellaneous income and (expenses)\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n 1<\/b><\/p>\n<\/td>\n \n19\n<\/p>\n<\/td>\n (45)<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet income (loss) before income taxes\n<\/p>\n<\/td>\n \n(18,897)\n<\/p>\n<\/td>\n 730<\/b><\/p>\n<\/td>\n \n(22,630)\n<\/p>\n<\/td>\n (26,210)<\/b><\/p>\n<\/td>\n<\/tr>\n \nProvision for income taxes\n<\/p>\n<\/td>\n \n1,108\n<\/p>\n<\/td>\n 401<\/b><\/p>\n<\/td>\n \n697\n<\/p>\n<\/td>\n 31,180<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet income (loss)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(20,005)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n 329<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(23,327)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n (57,390)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nBasic income (loss) per share Class A and Class B common stock\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(0.75)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n 0.01<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(0.88)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n (2.15)<\/b><\/p>\n<\/td>\n<\/tr>\n \nDiluted income (loss) per share Class A and Class B common stock\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(0.75)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n 0.01<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(0.88)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n (2.15)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nBasic weighted average Class A and Class B common stock shares outstanding\n<\/p>\n<\/td>\n \n26,616,696\n<\/p>\n<\/td>\n 26,683,363<\/b><\/p>\n<\/td>\n \n26,442,791\n<\/p>\n<\/td>\n 26,683,363<\/b><\/p>\n<\/td>\n<\/tr>\n \nDiluted weighted average Class A and Class B common stock shares outstanding\n<\/p>\n<\/td>\n \n26,616,696\n<\/p>\n<\/td>\n 26,791,353<\/b><\/p>\n<\/td>\n \n26,442,791\n<\/p>\n<\/td>\n 26,683,363<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n Salem Media Group, Inc.<\/b><\/p>\n<\/td>\n<\/tr>\n Condensed Consolidated Balance Sheets<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n December 31, 2019<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n September 30, 2020<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (Unaudited)<\/i><\/p>\n<\/td>\n<\/tr>\n Assets<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCash\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n6\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n 19,298<\/b><\/p>\n<\/td>\n<\/tr>\n
\nSalem Media Group, Inc. (Nasdaq: SALM) released its results for the three and nine months ended September 30, 2020.\n<\/p>\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n