Salem Media Group swung to a net loss of $34.6 million in 2025, reversing net income of $16.2 million in 2024, as the Christian and conservative multimedia company absorbed heavy impairment charges on its broadcast assets amid declining revenue.
Total net revenue fell about 10% to $212.7 million from $237.6 million in the prior year.On a per-share basis, the company reported a loss of $1.11, compared with earnings of $0.59 per share in 2024.The widened loss stemmed largely from a $25.2 million impairment charge on indefinite-lived broadcast assets—far above the $4.4 million recorded in 2024—driving broadcast licenses' reported value down to $151.8 million from $181.9 million.
Operating results also deteriorated, with an operating loss of $39.7 million versus $5.5 million in 2024, as expenses rose to $252.4 million from $243.0 million due to restructuring charges and impairments (despite a slight dip in selling, general and administrative costs).
The company also booked $4.0 million in restructuring expenses.