Salem Moves Forward With Q1 Guidance Wipe


On ThursdayiHeartMedia — the largest owner of radio stations in the U.S. — disclosed that it was taking a big chunk of money out of a credit line established with its emergence from Chapter 11 bankruptcy, while withdrawing its full-year 2020 guidance.

The reason is directly tied to the extreme impact the COVID-19 pandemic is delivering to radio broadcasting companies.

Hours later, Salem Media Group moved forward with a coronavirus-fueled move of its own.

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