Salem Media Group narrowed its second-quarter net loss to $3.4 million while preparing to sell itself to the Christian non-profit WaterStone, a deal expected to take the company private this month and potentially mark one of its final public earnings reports.
The right-of-center broadcaster reported net revenue of $45.9 million for the quarter, down from $54.2 million a year earlier. Its net loss improved to $3.4 million, or 11 cents per share, from $17.6 million, or 55 cents per share, in the prior-year period.
The smaller loss was driven mainly by a reduced non-cash impairment charge of $4.8 million in the second quarter of 2026, compared with $25.2 million a year earlier. General operating expenses also fell to $40.2 million from $51.2 million.
Earlier this year, Salem’s board and shareholders approved the sale to WaterStone for $1 per share.
Regulatory approval remains the final major hurdle. The company still expects the transaction to close this month.
Salem continues to pursue cost reductions. In March it listed its corporate headquarters for sale and plans to become a tenant on the first floor of the same building. It has also stopped using a private jet rented from a company linked to its former CEO.
Salem operates Christian-themed and conservative spoken-word audio brands across radio stations, digital properties and other media assets. Going private would end its long tenure as a publicly traded company and place it under a non-profit foundation with a Christian-focused mission. It remains unclear whether WaterStone plans any programming changes after the acquisition.