Salem Media Group, Inc. (NASDAQ:SALM) Q3 2023 Earnings Conference Call November 13, 2023 5:00 PM ET

Company Participants

Evan Masyr - Executive Vice President and Chief Financial Officer

David Santrella - Chief Executive Officer

David Evans - Chief Operating Officer

Christopher Henderson - General Counsel

Conference Call Participants

David Marsh - Singular Research

Operator

Good day everyone, and welcome to the Salem Media Group Third Quarter 2023 earnings call. Today's call is being recorded.

And it is now my pleasure to turn the call over to Evan Masyr, Chief Financial Officer. Please go ahead.

Evan Masyr

Welcome and thank you for joining us today for Salem Media Group's third quarter 2023 earnings call. As a reminder, if you get disconnected at any time, you can dial back in or listen from our website at www.salemmedia.com. With me today are David Santrella, Chief Executive Officer, and David Evans, Chief Operating Officer.

We'll begin in just a moment with our prepared remarks. Once we are done, the conference call operator will come back on the line to instruct you on how to submit questions.

Please be advised that statements made on this call 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. These forward-looking statements are based on currently available information. Actual results may differ materially from those anticipated, and reported results should not be considered an indication of future performance. We do not intend and undertake no obligation to update our forward-looking statements, including forecasts of future performance, the potential for growth of existing markets, the opening of new markets, or the potential growth from future acquisitions.

This conference call also contains non-GAAP financial measures within the meaning of Regulation G, specifically Station Operating Income or SOI, EBITDA, and Adjusted EBITDA. In conformity with Regulation G, information required to accompany the disclosure of non-GAAP financial measures is available on the investor relations portion of our website at salemmedia.com.

I will now like to turn the call over to Dave Santrella. Dave?

David Santrella

Thanks Evan and good afternoon to everyone on the call and on the webcast.

My prepared remarks will focus on a review of Salem's financial performance in the third quarter and an update on asset sales. After that, I'll turn the call back to Evan to provide some additional details on the performance in the third quarter, talk about Salem's debt, and give guidance for the fourth quarter.