Beasley Broadcast Group Fourth Quarter Net Revenue Rises 9.1%; Same Station Net Revenue Increases 5.7%

Beasley Broadcast Group Fourth Quarter Net Revenue Rises 9.1%; Same Station
Net Revenue Increases 5.7%

Enters Into Music Licensing Agreement With Big Machine Label Group

NAPLES, Fla., Feb. 5, 2013 (GLOBE NEWSWIRE) -- Beasley Broadcast Group, Inc.
(Nasdaq:BBGI), a large- and mid-size market radio broadcaster, today announced
operating results for the three-month and twelve month periods ended December
31, 2012 as summarized below. Separately, Beasley Broadcast announced a
licensing agreement with Nashville-based Big Machine Label Group to share
certain over-the-air broadcasting and digital revenue related to the use of
Big Machine's Music.

                                                                  
Summary of Fourth Quarter and 2012 Full Year Results
In millions, except Three Months Ended           Twelve Months Ended   
per share data      December 31,                  December 31,
                   2012       2011       Change  2012        2011      Change
Net revenue         $27.4      $25.2      9.1%    $100.2      $97.7     2.6%
Station operating
income (SOI -       10.8       9.4        14.3%   37.7        34.4      9.7%
non-GAAP)
Operating income    8.1        6.9        16.7%   27.5        23.9      14.9%
Net income*         3.6        3.4        6.4%    11          10.1      9.2%
Net income per     $0.16      $0.15      6.7%    $0.48       $0.45     6.7%
diluted share*
                                                                  
* Net income and net income per diluted share for the twelve month period
ended December 31, 2012 reflects a $2.6 million pre-tax charge for loss on
extinguishment of long-term debt incurred in the quarter ended September 30,
2012.

The $2.3 million, or 9.1%, rise in net revenue during the three months ended
December 31, 2012, compared with the same period in 2011 reflects the benefit
of political advertising during the period, the acquisition of KOAS-FM Las
Vegas in the 2012 third quarter, and strength in the Company's Philadelphia,
Las Vegas, Fort Myers and Augusta market clusters.

The $1.2 million, or 16.7%, year-over-year improvement in 2012 fourth quarter
operating income reflects the quarterly revenue increase and more than offset
a 6.2%, or $1.1 million, rise in total operating expenses, which included
increased commissions and compensation related to higher revenue levels as
well as increased promotional spending.

Fourth quarter 2012 station operating income (SOI), a non-GAAP financial
measure, rose $1.3 million, or 14.3%, to $10.8 million compared with the 2011
fourth quarter, as the higher quarterly net revenue more than offset a 5.9%,
or $0.9 million, increase in station operating expenses.

The higher operating income more than offset a $0.7 million, or 49.9%,
increase in interest expense and a $0.2 million, or 10.1%, increase in income
tax expense resulting in a 6.4% rise in net income to $3.6 million and a 6.7%
rise in net income per diluted share to $0.16.

Please refer to the "Calculation of SOI," "Reconciliation of SOI to Net
Income," "Calculation of Same-Station SOI," and "Reconciliation of
Same-Station SOI to Net Income" tables at the end of this announcement for a
discussion regarding SOI calculations.

Commenting on the results, George G. Beasley, Chairman and Chief Executive
Officer, said, "Beasley Broadcast Group ended 2012 strongly as fourth quarter
net revenue rose 9.1% and same station net revenue increased 5.7%. Fourth
quarter revenue growth reflects several factors including the cyclical return
of political advertising particularly in our Las Vegas, Miami and Wilmington
market clusters, continued strength in key advertising categories including
automotive, a full quarter's contribution from KOAS-FM in Las Vegas which was
acquired in the third quarter, and overall strength in the Company's
Philadelphia, Las Vegas, Fort Myers and Augusta market clusters.

"The solid fourth quarter revenue growth combined with the Company's focus on
margins led to another period of SOI growth, as consolidated SOI increased
14.3% compared to last year's fourth quarter while same station SOI improved
by 9.5%. Highlighting the operating efficiencies being realized on our higher
revenue levels, fourth quarter SOI margins were 39.3%, up from 37.5% in the
same quarter last year.

"We further strengthened our balance sheet and capital structure by leveraging
our strong cash flows from operations to repay $2.1 million of our debt, which
ended the quarter at $116.8 million compared to $126.7 million at December 31,
2011, and $142.0 million at the end of 2010.We ended the fourth quarter with
our lowest leverage ratio in over ten years and remain committed to using cash
from operations to further lower debt and pursue other initiatives that can
enhance shareholder value.In this regard, and reflecting the terms of the
Company's new credit facilities, the Company declared and paid a special
one-time dividend of $0.085 per share near the end of December, amounting to a
return of capital to shareholders of approximately $1.9 million.

"Looking forward, we remain focused on managing our station clusters to match
or exceed their market's revenue performance while delivering continued
ratings strength through our strong core programming and targeted localism.In
addition to our focus on on-air and digital advertising initiatives, we will
continue to strengthen our balance sheet and lower leverage by allocating cash
flows from operations to further reduce our borrowings.With further progress
on this front, and, reflecting the terms of our new credit facility, we will
evaluate future opportunities to return capital to shareholders in the form of
dividends or share repurchases.

"Finally, the licensing agreement between Beasley Broadcast Group and Big
Machine Label Group represents yet another way Beasley is leveraging its core
broadcasting platform and digital initiatives to benefit on-air and digital
listeners and users. We believe this alignment furthers our mission of
offering advertisers a wider range of platforms and options for reaching
listeners while bringing them great content when and where they want it."

Webcast Information

The Company will host a webcast today, February 5, 2013, at 11:00 a.m. ET to
discuss its financial results and operations.Interested parties may access
the webcast at the Company's web site at www.bbgi.com.Following its
completion, a replay of the webcast can be accessed for five days on the
Company's web site, www.bbgi.com.

About Beasley Broadcast Group

Founded in 1961, Beasley Broadcast Group, Inc. is a radio broadcasting company
that owns and operates 43 stations (27 FM and 16 AM) located in eleven large-
and mid-size markets in the United States.The Company also provides
management services to an FM station in Las Vegas for which it has an option
to purchase, and operates one station in the expanded AM band in Augusta, GA.

The Beasley Broadcast Group, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4259

Definitions

Station Operating Income (SOI) consists of net revenue less station operating
expenses.We define station operating expenses as cost of services and
selling, general and administrative expenses.

Same-station results, as presented herein, compare stations operated by the
Company throughout all periods presented in the following tables.For the
three and twelve months ended December 31, 2012, same-station results exclude
revenue and costs related to the acquisition of KOAS-FM in Las Vegas.

SOI and same-station SOI are financial measures of performance that are not
calculated in accordance with U.S. generally accepted accounting principles,
which we refer to as GAAP.We use these non-GAAP financial measures for
internal budgeting purposes.We also use SOI to make decisions as to the
acquisition and disposition of radio stations.SOI and same-station SOI
excludes corporate-level costs and expenses and depreciation and amortization,
which may be material to an assessment of the Company's overall operating
performance.Management compensates for this limitation by separately
considering the impact of these excluded items to the extent they are material
to operating decisions or assessments of the Company's operating
performance.Moreover, the corresponding amounts of the non-cash and
corporate-level costs and expenses excluded from the calculation are available
to investors as they are presented on our statements of operations contained
in our periodic reports filed with the Securities and Exchange Commission
(SEC).

SOI is a measure widely used in the radio broadcast industry.While the
Company recognizes that because SOI is not calculated in accordance with GAAP,
it is not necessarily comparable to similarly titled measures employed by
other companies.Management believes that SOI provides meaningful information
to investors because it is an important measure of how effectively we operate
our business (i.e., operate radio stations) and assists investors in comparing
our operating performance with that of other radio companies.We also believe
that providing SOI on a same-station basis is a useful measure of our
performance because it presents SOI before the impact of any acquisitions or
dispositions completed during the relevant periods.This allows investors to
measure the performance of radio stations we owned and operated during the
entirety of two operating periods being compared.

Note Regarding Forward-Looking Statements:

Statements in this release that are "forward-looking statements" are based
upon current expectations and assumptions, and involve certain risks and
uncertainties within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995.Words or expressions such as "intends," "expects,"
"expected," "anticipates" or variations of such words and similar expressions
are intended to identify such forward-looking statements.Key risks are
described in our reports filed with the SEC including in our Annual Report on
Form 10-K for the year ended December 31, 2011.Readers should note that
forward-looking statements are subject to change and to inherent risks and
uncertainties and may be impacted by several factors, including: external
economic forces that could have a material adverse impact on our advertising
revenues and results of operations; our radio stations may not be able to
compete effectively in their respective markets for advertising revenues; we
may not remain competitive if we do not respond to changes in technology,
standards and services that affect our industry; our substantial debt levels;
and, the loss of key personnel.Our actual performance and results could
differ materially because of these factors and other factors discussed in the
"Management's Discussion and Analysis of Results of Operations and Financial
Condition" in our SEC filings, including but not limited to annual reports on
Form 10-K or quarterly reports on Form 10-Q, copies of which can be obtained
from the SEC, www.sec.gov, or our website, www.bbgi.com.All information in
this release is as of February 5, 2013, and we undertake no obligation to
update the information contained herein to actual results or changes to our
expectations.

                               -tables follow-

                                                              
BEASLEY BROADCAST GROUP, INC.
Consolidated Statements of Operations (Unaudited)
                                                              
                      Three Months Ended          Twelve Months Ended
                       December 31,                December 31,
                      2012          2011          2012           2011
Net revenue            $27,436,531   $25,157,228   $100,240,597   $97,698,634
Operating expenses:                                            
Station operating
expenses (including
stock-based
compensation and       16,647,629    15,717,223    62,528,795     63,320,617
excluding depreciation
and amortization shown
separately below) ^(1)
(2)
Corporate general and
administrative
expenses (including    2,184,057     1,939,115     8,105,250      8,046,126
stock-based
compensation) ^ (3)
Depreciation and       533,703       583,124       2,097,179      2,391,531
amortization
Total operating        19,365,389    18,239,462    72,731,224     73,758,274
expenses
Operating income      8,071,142     6,917,766     27,509,373     23,940,360
Non-operating income                                           
(expense):
Interest expense       (2,083,896)   (1,390,019)   (6,488,521)    (7,357,943)
Loss on extinguishment 44,179        --            (2,563,979)    --
of long-term debt
Other income           12,812        76,022        (178,716)      243,639
(expense), net
Income before income   6,044,237     5,603,769     18,278,157     16,826,056
taxes
Income tax expense    2,438,956     2,214,372     7,246,887      6,725,731
Net income             $3,605,281    $3,389,397    $11,031,270    $10,100,325
                                                              
Basic income per share $0.16         $0.15         $0.49          $0.45
Diluted net income per $0.16         $0.15         $0.48          $0.45
share
Basic common shares    22,677,296    22,604,534    22,667,102     22,593,327
outstanding
Diluted common shares  22,759,429    22,693,301    22,748,962     22,685,661
outstanding
                                                              
                                                              
(1) We refer to "Cost of services," and "Selling, general and administrative"
together as "station operating expenses" for the "Calculation of SOI" and
"Reconciliation of SOI to Net Income" below.
                                                              
(2) Includes stock-based compensation of $(7,923) and $(29,230) for the three
months ended December 31, 2012 and 2011, respectively and $4,330 and $5,730
for the twelve months ended December 31, 2012 and 2011, respectively.
                                                              
(3) Includes stock-based compensation of $95,973 and $148,068 for the three
months ended December 31, 2012 and 2011, respectively and $429,739 and
$613,370 for the twelve months ended December 31, 2012 and 2011, respectively.

                                                      
Selected Balance Sheet Data - Unaudited
(in thousands)
                                                      
                                          December 31, December 31,
                                           2012         2011
Cash and cash equivalents                 $11,661      $13,610
Working capital                           20,754       19,789
Total assets                               259,373      254,989
Long term debt, less current installments 113,250      119,885
Total stockholders' equity                $83,049      $73,647


Selected Statement of Cash Flows Data – Unaudited
                                                             
                                             Twelve Months Ended December 31,
                                             2012             2011
Net cash provided by operating activities    $20,404,535      $20,668,341
Net cash used in investing activities        (3,787,370)      (2,327,766)
Net cash used in financing activities         (18,566,586)     (15,390,169)
Net increase (decrease) in cash and cash      ($1,949,421)     $2,950,406
equivalents


Calculation of SOI – Unaudited
                                                   
                          Three Months Ended        Twelve Months Ended
                           December 31,              December 31,
                          2012         2011         2012         2011
Net revenue                $27,436,531  $25,157,228  $100,240,597 $97,698,634
Station operating expenses (16,647,629) (15,717,223) (62,528,795) (63,320,617)
SOI                        $10,788,902  $9,440,005   $37,711,802  $34,378,017


Reconciliation of SOI to Net Income - Unaudited
                                                     
                              Three Months Ended      Twelve Months Ended
                               December 31,            December 31,
                              2012        2011        2012        2011
SOI                            $10,788,902 $9,440,005  $37,711,802 $34,378,017
Corporate general and          (2,184,057) (1,939,115) (8,105,250) (8,046,126)
administrative expenses
Depreciation and amortization  (533,703)   (583,124)   (2,097,179) (2,391,531)
Interest expense               (2,083,896) (1,390,019) (6,488,521) (7,357,943)
Loss on extinguishment of      44,179      --          (2,563,979) --
long-term debt
Other income (expense), net    12,812      76,022      (178,716)   243,639
Income tax expense             (2,438,956) (2,214,372) (7,246,887) (6,725,731)
Net income                     $3,605,281  $3,389,397  $11,031,270 $10,100,325


Calculation of Same-Station SOI - Unaudited
                                                    
                             Three Months Ended      Twelve Months Ended
                              December 31,            December 31,
                             2012        2011        2012         2011
Reported net revenue          $27,436,531 $25,157,228 $100,240,597 $97,698,634
Acquisition of KOAS-FM        (849,811)   --          (1,252,318)  --
Same-station net revenue      $26,586,720 $25,157,228 $98,988,279  $97,698,634
                                                               
Reported station operating    $16,647,629 $15,717,223 $62,528,795  $63,320,617
expenses
Acquisition of KOAS-FM        (398,124)   --          (628,936)    --
Same-station operating        $16,249,505 $15,717,223 61,899,859   $63,320,617
expenses
                                                               
Same-station net revenue      $26,586,720 $25,157,228 $98,988,279  $97,698,634
Same-station operating        16,249,505  15,717,223  61,899,859   63,320,617
expenses
Same-station SOI              $10,337,215 $9,440,005  $37,088,420  $34,378,017


Reconciliation of Same-Station SOI to Net Income - Unaudited
                                                     
                              Three Months Ended      Twelve Months Ended
                               December 31,            December 31,
                              2012        2011        2012        2011
Same-station SOI               $10,337,215 $9,440,005  $37,088,420 $34,378,017
Same-station net revenue       849,811     --          1,252,318   --
adjustment
Same-station station operating (398,124)   --          (628,936)   --
expenses adjustment
Corporate general and          (2,184,057) (1,939,115) (8,105,250) (8,046,126)
administrative expenses
Depreciation and amortization  (533,703)   (583,124)   (2,097,179) (2,391,531)
Interest expense               (2,083,896) (1,390,019) (6,488,521) (7,357,943)
Loss on extinguishment of      44,179      --          (2,563,979) --
long-term debt
Other income (expense), net    12,812      76,022      (178,716)   243,639
Income tax expense            (2,438,956) (2,214,372) (7,246,887) (6,725,731)
Net income                    $3,605,281  $3,389,397  $11,031,270 $10,100,325

CONTACT: B. Caroline Beasley, Chief Financial Officer
         Beasley Broadcast Group, Inc.
         239/263-5000; email@bbgi.com
        
         Joseph N. Jaffoni
         JCIR
         212/835-8500 or bbgi@jcir.com

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