Salem Media Group, Inc. (OTCQX:SALM) Q1 2020 Earnings Conference Call June 1, 2020 5:00 PM ET Company Participants Evan Masyr - Executive Vice President and Chief Financial Officer Edward Atsinger - Chief Executive Officer David Santrella - President of Broadcast Media David Evans - President of Interactive and Publishing Conference Call Participants Davis Hebert - Wells Fargo Lisa Springer - Singular Research Matthew Sandschafer - Mesirow Operator Greetings, and welcome to the Salem Media Group First Quart ...

Salem Media Group, Inc. (OTCQX:SALM) Q4 2019 Earnings Conference Call March 12, 2020 5:00 PM ET Company Representatives Edward Atsinger - Chief Executive Officer David Santrella - President of Broadcast Media David Evans - President of Interactive and Publishing Evan Masyr - Executive Vice President, Chief Financial Officer Conference Call Participants Michael Kupinski - NOBLE Capital Markets Operator Greetings! And welcome to the Salem Media Group, Fourth Quarter 2019 Earnings Call. At this time all partic ...

MEDIA GROUP INVESTOR PUBLISHING INVESTOR PRESENTATION PRESENTATION BROADCASTING DIGITAL NASDAQ: SALM | December 2019 Safe Harbor Certain statements in this presentation constitute "forward-looking statements" within the meaning of the private securities litigation reform act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, ...

Financial Data and Key Metrics Changes - For Q3 2019, total revenue decreased by 2.2% to $64.1 million, while adjusted EBITDA fell by 13% to $9.0 million [9][25] - Recurring operating expenses decreased by 0.1% to $55.1 million [25] - Net Broadcast revenue decreased by 2.3% to $47.7 million, with Broadcast operating expenses increasing by 0.4% to $37.3 million, resulting in a station operating income decline of 11% [25] Business Line Data and Key Metrics Changes - Broadcast revenue declined by 2.3% or $1.1 million, with a same-station revenue decline of 1.4% [10][11] - Digital revenue increased by 68.3% to $3.7 million, driven by Salem Surround [13] - Publishing division revenue increased by 15.3% to $7.3 million, with a profit of almost $800,000 compared to $100,000 in Q3 of the previous year [15][18] Market Data and Key Metrics Changes - Political revenue in the Broadcast division decreased significantly from $1.2 million in Q3 2018 to $200,000 in Q3 2019 [11] - National digital revenue decreased by 12% to $9.1 million, representing 14% of total revenue [29] Company Strategy and Development Direction - The company is focusing on paying down debt, with plans to use proceeds from recent station sales for this purpose [19][33] - The company is also looking to continue its M&A activity, having sold several radio stations and planning further sales [19][20] Management Comments on Operating Environment and Future Outlook - Management anticipates total revenue to decrease between 4% and 6% in Q4 2019 compared to Q4 2018 [30] - The company expects to maintain a leverage ratio above six by the end of Q4, with a goal to reduce it further [33] Other Important Information - The company recorded $5.4 million in valuation allowances against deferred tax assets due to a three-year cumulative pretax loss [24] - A quarterly cash distribution of $1.7 million was paid, representing a 16.4% dividend yield based on the current stock price [23] Q&A Session Summary Question: What will debt leverage be by year-end? - Management indicated leverage will likely be above six at the end of Q4, with a focus on reducing it [33] Question: Will there be a plan to cut the dividend for debt paydown? - The Board reviews the dividend quarterly, with discussions ongoing regarding future decisions [35] Question: How do planned station sales affect the network business? - Most sold stations were not in key mission formats, thus not significantly impacting the network business [36] Question: What is the outlook for block programming in 2020? - The renewal process is going well, and rate increases are anticipated [40] Question: How did the Publishing segment perform this quarter? - The Publishing segment had a strong release schedule, with Q3 being the strongest quarter of the year [42] Question: Does the scrutiny on political advertising create opportunities? - Management believes it may provide opportunities for increased political revenue [47] Question: What was the rationale behind recent asset sales? - The sales were both strategic and opportunistic, with good prices achieved for the properties [69]

Salem Media Group, Inc. (OTCQX:SALM) Q2 2019 Results Conference Call August 8, 2019 5:00 PM ET Company Participants Evan Masyr – Executive Vice President and Chief Financial Officer Edward Atsinger – Chief Executive Officer David Santrella – President-Broadcast Media David Evans – President-Interactive and Publishing Conference Call Participants Michael Kupinski – NOBLE Financial Robert Maltbie – Singular Research Davis Hebert – Wells Fargo Steve Bassett – Calamos Operator Greetings, and welcome to the Sale ...

Salem Media Group, Inc. (OTCQX:SALM) Q1 2019 Earnings Conference Call May 10, 2019 3:00 PM ET Company Participants Evan Masyr - Chief Financial Officer Edward Atsinger - Chief Executive Officer David Santrella - President, Broadcast Media David Evans - President, New Media Conference Call Participants Michael Kupinski - Noble Capital Markets Lisa Springer - Singular Research Operator Ladies and gentlemen, greetings and welcome to Salem Media Group, Inc. First Quarter 2019 Earnings Call. At this time, all pa ...

Salem Media Group, Inc. (OTCQX:SALM) Q4 2018 Earnings Conference Call March 12, 2019 5:00 PM ET Company Participants Evan Masyr - Executive Vice President and Chief Financial Officer Edward Atsinger - Chief Executive Officer Dave Santrella - President, Broadcast Media David Evans - President, New Media Conference Call Participants Michael Kupinski - Noble Financial Davis Hebert - Wells Fargo Securities Lisa Springer - Singular Research Steve Bassett - Calamos Investments Operator Greeting, and welcome to th ...

MEDIA GROUP INVESTOR INVESTOR PRESENTATION BROADCASTING DIGITAL PUBLISHING PRESENTATION NASDAQ: SALM | January 2019 Safe Harbor Certain statements in this presentation constitute "forward-looking statements" within the meaning of the private securities litigation reform act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, ...