KXTE-FM

Beasley Broadcast Group Reports Fourth Quarter Revenue of $65.7 Million and Diluted EPS of $0.21

Retrieved on: 
Monday, February 12, 2024
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NAPLES, Fla., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Beasley Broadcast Group, Inc. (Nasdaq: BBGI) (“Beasley” or the “Company”), a multi-platform media company, today announced operating results for the three- and twelve-month periods ended December 31, 2023. For further information, the Company has posted a presentation to its website regarding the fourth quarter highlights and accomplishments that management will review on today’s conference call.

Key Points: 
  • Beasley reported fourth quarter operating income of $7.6 million, an increase of $39.3 million compared to an operating loss of $31.7 million in the fourth quarter of 2022.
  • Adjusted EBITDA (a non-GAAP financial measure) was $4.7 million in the fourth quarter of 2023 compared to $9.9 million in the fourth quarter of 2022.
  • Net revenues for the 2023 fourth quarter and full year decreased by $6.3 million and $9.3 million, respectively.
  • While macroeconomic pressures held fourth quarter digital revenue flat compared to the prior year, Beasley delivered meaningful full-year digital revenue growth, up 11.4% year-over-year.

Beasley Media Group Enters Into Exchange Agreement With Audacy

Retrieved on: 
Friday, October 7, 2022
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NAPLES, Fla., Oct. 06, 2022 (GLOBE NEWSWIRE) -- Beasley Media Group, LLC (Nasdaq: BBGI) (“Beasley” or the “Company”), a multi-platform media company, announced today that it entered into an asset exchange agreement with Audacy, Inc. (NYSE: AUD) whereby Beasley will exchange the radio station 720 AM KDWN-AM and the translator for 101.5 FM for Alternative 107.5 KXTE-FM, in Las Vegas.

Key Points: 
  • NAPLES, Fla., Oct. 06, 2022 (GLOBE NEWSWIRE) -- Beasley Media Group, LLC (Nasdaq: BBGI) (Beasley or the Company), a multi-platform media company, announced today that it entered into an asset exchange agreement with Audacy, Inc. (NYSE: AUD) whereby Beasley will exchange the radio station 720 AM KDWN-AM and the translator for 101.5 FM for Alternative 107.5 KXTE-FM, in Las Vegas.
  • As part of the agreement, longtime Las Vegas-based syndicated morning personalities Dave and Mahoney will continue to be heard weekdays from 6 a.m. - 10 a.m. on KXTE-FM under Beasleys ownership.
  • Celebrating its 61st anniversary this year, Beasley Broadcast Group, Inc., (www.bbgi.com) was founded in 1961 by George G. Beasley.
  • Beasley Broadcast Group owns and operates 61 AM and FM stations in 15 large- and mid-size markets in the United States.