Beasley Broadcast Group announced on Friday a
Beasley Broadcast Group announced on Friday a $1.5 million rise in revenue for Q1, over the same period in 2012. In a release, the company said the 6.5 percent increase “reflects strength in the Company’s Philadelphia, Las Vegas and Fort…
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Myers market clusters.” The company said the higher revenue offset a $1.2 million, or 7.7 percent, increase in station operating expenses during the same period. Beasley said it made debt repayments totaling $1 million during Q1, and “expects to record a loss on extinguishment of debt of approximately $1.3 million in the quarter ending June 30, 2013.” CEO George Beasley said the company has reduced its “leverage ratio to its lowest level in over ten years” and “intends to continue deploying cash from operations to further reduce debt and pursue other initiatives that can enhance shareholder value."