There's a "FOR SALE" sign posted on the grounds of the Salem stations in Altamonte Springs. The listing is for the property. The company has been losing money for several quarters now as per stock reports. The real estate listing price is $750k. Is this the precursor to a sale of the stations? Just wondering!
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Salem Stations On The Block???
- Thread starter DOGDOG
- Start date
You could go to the county assessor's page and find out who owns the building in question. I'm guessing it's just the building that's for sale.
If you are referring to the property at 1188 Lake View Drive in Altamonte Springs, that's an office building. Very frequently, stations rent rather than owning office facilities as generally they can make a better return on investment from the core business than from owning non-essential property.
Checking the property listing, it is an "owner/user" sale. That means that either Salem does not want to have money tied up in the property, or that they are moving.
Salem is not "losing money". That phrase means "unprofitable". Salem is quite profitable, although (like most radio groups) its revenues this year were lower than 2016. But they are still making a profit, and are projected by the analysts who track the stock to likely have EBITDA of $37 million this year.
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