Salem Media reported another quarterly revenue decline as the company prepares to potentially leave the public markets. The results arrive just weeks before WaterStone could complete its acquisition.
What We Know: Salem Media reported its 2026 2nd Quarter financial results as it moves toward a major ownership change. The company entered an agreement with WaterStone in May to go private. Under the deal, WaterStone will acquire Salem’s outstanding common shares for $1 per share. Salem’s board unanimously approved the transaction, which the company expects to close in August, pending shareholder and regulatory approvals.
What the Numbers Show:
| Metric | Q2 2026 | Change |
|---|---|---|
| Net Revenue | $45.9 million | 🔻 15.2% |
| Political Advertising Revenue | $1.3 million | 🟢 ↑ 110% |
| Total Operating Expenses | $50.3 million | 🔻 34.2% |
What Remains Unclear: It is unknown if this is Salem’s final earnings report as a public company.
What It Means: The quarter could represent one of Salem Media’s final financial reports as a publicly traded company. If the WaterStone transaction closes this month as expected, Salem will transition to private ownership after years in the public markets.
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Garrett Searight is Barrett Media’s News Editor, which includes writing daily news stories, features, and opinion columns. He joined Barrett Media in 2022 after a decade leading several radio brands in several formats, as well as a 5-year stint working in local television. In addition to his work with Barrett Media, he is a radio and TV play-by-play broadcaster. Reach out to him at Garrett@BarrettMedia.com.