Salem Posts Losses in Fourth Quarter

Despite shedding money-losing properties, such as radio stations in Milwaukee, and its CCM magazine title, Christian conservative media company Salem Communications continued to post losses in 2009. The Camarillo-based company had a net loss of $1.6 million, or $0.07 per diluted share, on revenues of $51 million for quarter ended Dec. 31, 2009. For the same period in 2008, the company had a net loss of $30.6 million, or $1.29 per diluted share, on revenues of $55 million. For the 2009 fiscal year, Salem had a net loss of $8.3 million, or $0.35 per diluted share, on revenues of $199.2 million. For the previous fiscal year, the media company had a net loss of $33.1 million, or $1.40 per diluted share, on revenues of $222.5 million. Thom Senzee