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Beasley Broadcast Group Inc (BBGI) operates at the intersection of traditional radio broadcasting and modern digital engagement, delivering integrated marketing solutions across audio, digital, and esports platforms. This news hub provides investors and industry observers with direct access to official corporate communications and market developments.
Track all essential updates through curated press releases and verified news coverage, including earnings announcements, strategic partnerships, leadership changes, and technological initiatives. Our aggregation ensures timely access to information impacting BBGI's position in the competitive media landscape.
The repository features updates across BBGI's core operational areas: radio station performance metrics, digital audience expansion strategies, esports ventures, and advertising innovations. Content is organized for efficient navigation while maintaining chronological integrity of corporate disclosures.
Bookmark this page for streamlined monitoring of BBGI's business trajectory. Combine regular visits with portfolio tracking tools to maintain informed perspectives on this evolving multi-platform media enterprise.
Beasley Broadcast Group (NASDAQ: BBGI) reported Q4 2024 financial results with net revenue increasing 2.3% to $67.3 million, primarily driven by $8.3 million in political advertising. The company posted an operating income of $7.6 million but recorded a net loss of $2.1 million ($1.17 per diluted share) in Q4 2024, compared to net income of $6.4 million in Q4 2023.
Key Q4 metrics showed mixed performance with new business revenue declining 12.8% year-over-year, while digital revenue decreased 4.1% to $11.5 million, representing 17.1% of net revenue. Local revenue accounted for 71% of net revenue.
For FY 2024, the company achieved $12.1 million in political revenue and saw digital revenue grow 2.9% to $46.7 million, comprising 19.4% of net revenue. The company implemented cost-reduction measures, achieving approximately $20.0 million in annualized expense reductions.
Beasley Broadcast Group (Nasdaq: BBGI) has scheduled its 2024 fourth quarter and full-year financial results announcement for March 20, 2025, before market opening. The multi-platform media company will host a conference call and webcast at 11:00 a.m. ET to discuss the results.
Interested participants can join via phone at (888) 672-2415 (domestic) or +1 (646) 307-1963 (international) using conference ID 1613596, or access the live webcast through the company's website. A replay will be available on www.bbgi.com for five days following the event.
Analysts, institutional investors, and debt holders can submit questions to ir@bbgi.com until 9:00 a.m. ET on March 20, 2025.
Beasley Broadcast Group (BBGI) reported Q3 2024 financial results with net revenue of $58.2 million, down 3.2% year-over-year. The company posted operating income of $1.2 million, compared to an operating loss of $85.5 million in Q3 2023. Digital revenue grew 1.1% to $11.3 million, representing 19.4% of net revenue. The company reported a net loss of $3.6 million or $2.33 per diluted share. Notable highlights include a 1.9% growth in new business revenue and $2.7 million in political revenue. Local revenue accounted for 56.8% of net revenue, while 35% of the total audience accessed content via digital platforms.
Beasley Broadcast Group (Nasdaq: BBGI) announced it will release its 2024 third quarter financial results before market opening on Tuesday, November 5, 2024. The company will host a conference call and webcast at 11:30 a.m. ET to discuss the results. Interested parties can join via phone (877-407-4018 or 201-689-8471, conference ID 13749767) or through a live webcast at www.bbgi.com. A replay will be available on the company's website for five days. Analysts and investors can submit questions until 9:00 a.m. ET on November 5.
Beasley Broadcast Group (Nasdaq: BBGI) has appointed Lauren Burrows Coleman as Chief Financial Officer, effective November 1, 2024, replacing retiring CFO Marie Tedesco who served the company for 33 years. Burrows Coleman joins from Wayfair, where she served as Global Head of Strategic Corporate and Commercial Finance, leading a team of 50 across various financial functions. Her career includes positions at WindSail Capital Group, Wind Point Partners, and GE Capital. She holds an MBA from Harvard Business School and an A.B. cum laude from Dartmouth College.
Beasley Broadcast Group (Nasdaq: BBGI) announces the expiration and final results of its previously announced offers, including an exchange offer, tender offer, new notes offer, and consent solicitation for its existing 8.625% Senior Secured Notes due 2026. The company reports that 98.4% of outstanding notes were tendered and accepted, reflecting strong stakeholder confidence.
Key outcomes include:
- Exchange Offer: $194,705,000 (72.9%) of notes exchanged for new 9.200% Senior Secured Notes due 2028
- Tender Offer: $68,000,000 (25.5%) of notes purchased at 62.5% of face value
- New Notes Offer: $30,000,000 of 11.000% Superpriority Senior Secured Notes due 2028
- 179,424 shares of Class A Common Stock issued to participating noteholders
CEO Caroline Beasley stated that these transactions will provide immediate debt reduction, extend maturities, and position the business for sustained success.
Beasley Broadcast Group (Nasdaq: BBGI) has extended the deadlines for its previously announced exchange offer, tender offer, and new notes offering. The Withdrawal Deadline, Expiration Date, and Subscription Form Delivery Date have been extended to 5:00 P.M., New York City time, on October 4, 2024. The Settlement Date is now set for October 8, 2024. This extension was granted at the request of certain key holders of the existing 8.625% Senior Secured Notes due 2026 to adjust their participation in the Tender Offer and Exchange Offer.
As of September 30, 2024, approximately 93% of outstanding Existing Notes have been submitted for tender or exchange. The company expects the total number of Existing Notes tendered or exchanged by the requesting holders to remain unchanged after accommodating this request.
Beasley Broadcast Group (Nasdaq: BBGI) has announced a 1-for-20 reverse stock split of its Class A and B Common Stock, effective September 23, 2024. This decision aims to regain compliance with Nasdaq's $1.00 minimum bid price requirement. Trading on a split-adjusted basis is expected to begin on September 24, 2024, under the same symbol 'BBGI'. The reverse split will not affect stockholders' ownership percentages or voting power, except for minor adjustments due to fractional shares. No fractional shares will be issued; instead, cash will be provided for fractional shares based on the closing price on the effective date. Equiniti Trust Company, is acting as the transfer and exchange agent for this process.
Beasley Broadcast Group's subsidiary, Beasley Mezzanine Holdings, has launched an exchange offer for its 8.625% Senior Secured Notes due 2026. The offer includes:
1. New 9.200% Senior Secured Notes due 2028 at 95% of principal amount
2. Pro-rata share of 3,588,495 Class A common stock shares
3. $5 consent fee per $1,000 principal
Additionally, the company announced a cash tender offer for up to $68 million of existing notes at 62.5% of principal. A new notes offer of $30 million in 11.000% Superpriority Senior Secured Notes is also planned. The company is seeking consent to amend the existing indenture, eliminating most restrictive covenants and releasing collateral liens.
These offers aim to improve the company's balance sheet and reduce leverage. A holder of 73% of existing notes has agreed to support the exchange offer, subject to conditions.
Beasley Broadcast Group (BBGI) reported Q2 2024 financial results with revenue of $60.4 million, down 4.8% year-over-year. Key highlights include:
- Digital revenue grew 5.7% (10.4% on same-station basis) to $13.0 million, accounting for 21.5% of net revenue
- Net loss decreased to $0.3 million ($0.01 per share) from $10.4 million ($0.35 per share) in Q2 2023
- Adjusted EBITDA increased 11.4% to $8.8 million
- Operating income of $5.4 million, compared to a $4.5 million loss in Q2 2023
- Local revenue, including digital packages, accounted for 72.8% of net revenue
- Political revenue of $586,000
The company is focusing on expense management, targeting $10 million in annualized savings, and leveraging its digital transformation strategy to offset challenges in the audio advertising market.
