Beasley Broadcast Group Third Quarter Net Revenue Rises 5.0%; Same Station Net Revenue Increases 2.7%

Beasley Broadcast Group Third Quarter Net Revenue Rises 5.0%; Same Station Net
Revenue Increases 2.7%

Completes Acquisition of KVGS-FM in Las Vegas

Webcast: Today, October 25, 2013 at 10:00 a.m. ET
www.bbgi.com

Replay information provided below

NAPLES, Fla., Oct. 25, 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 nine-month periods ended September
30, 2013 as summarized below.

Summary of Third Quarter and Year-to-Date Results
                                                                  
In millions, except per     Three Months Ended       Nine Months Ended 
share data                  September 30,           September 30,     
                           2013      2012     Change 2013     2012     Change
Net revenue                 $26.0     $24.7    5.0%   $77.6    $72.8    6.6%
Station operating income    9.4       9.0      5.2%   27.6     26.9     2.6%
(SOI - non-GAAP) (1)
Operating income (1)        6.6       6.5      0.8%   19.4     19.4     --
Net income (1) (2)          3.2       1.2      175.5% 8.0      7.4      7.3%
Net income per diluted      $0.14     $0.05    180.0% $0.35    $0.33    6.1%
share (1) (2)

(1) Station operating income, operating income, net income and net income per
diluted share for the nine month period ended September 30, 2012 benefited
from a pre-tax $0.8 million music license fee settlement with BMI which had
the effect of reducing station operating expenses during the period.

(2) Net income and net income per diluted share for the nine month period
ended September 30, 2013 was impacted by a pre-tax $1.0 million fee incurred
in connection with debt pre-payment and a non-cash pre-tax charge of $1.3
million for loss on extinguishment of long-term debt incurred in connection
with an amended credit agreement and the debt pre-payment.Net income and net
income per diluted share for the three and nine month periods ended September
30, 2012 reflect a non-cash pre-tax charge of $2.6 million for loss on
extinguishment of long-term debt.

The $1.2 million, or 5.0%, rise in net revenue during the three months ended
September 30, 2013 compared with the same period in 2012 reflects strength in
the Company's Philadelphia and Miami-Fort Lauderdale market clusters as well
as the acquisition of KOAS-FM in Las Vegas in the 2012 third quarter and
KVGS-FM in September 2013.

Third quarter 2013 station operating income (SOI), a non-GAAP financial
measure, rose by $0.5 million, or 5.2%, from the 2012 third quarter to $9.4
million. Higher net revenue in the 2013 third quarter more than offset the
$0.8 million, or 4.9%, increase in station operating expenses related to
operating KOAS-FM in Las Vegas for a full quarter in 2013, a partial quarter
of expenses for the operation of KVGS-FM in Las Vegas which was acquired in
September 2013, and a rise in sales and programming expenses. The flat
year-to-year comparison of 2013 third quarter operating income reflects a
6.5%, or $1.2 million, rise in total operating expenses which offset the
quarterly revenue increase.

Interest expense in the 2013 third quarter declined by 25.4%, or $0.5 million,
reflecting the lower cost of borrowing resulting from the refinancing of the
second lien debt in the second quarter of 2013 and reduced amounts
outstanding.Income tax expense in the 2013 third quarter rose 167.9% to $2.1
million from $0.8 million in the 2012 third quarter, reflecting the increase
in pre-tax income.Third quarter net income and net income per diluted share
rose to $3.2 million and $0.14, respectively, for the 2013 third quarter which
compares with net income and net income per diluted share of $1.2 million and
$0.05, respectively, in the same period last year and reflects a $2.6 million
pre-tax charge for loss on extinguishment of long-term debt.

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, "The third quarter marks Beasley Broadcast Group's fifth
consecutive period of top line growth as third quarter net revenue rose 5.0%
and same station net revenue increased 2.7%.Excluding the benefit of
political advertising in the year-ago quarter, same station net revenue rose
approximately 4.4%.

"The third quarter revenue increase reflects growth in local and digital
revenue, strength in our largest market clusters in Philadelphia and Miami,
and continued growth in Augusta.Overall, for our five markets that report to
Miller Kaplan – which represent approximately 76% of our total third quarter
revenue – Beasley station clusters grew revenue by 6.8% while the total
revenue for all reporting radio stations in these markets declined by 1.4% for
the quarter.Our out-performance continues to highlight our organization-wide
focus on strong core programming and targeted localism, both of which are
contributing to the Company's ratings strength in its markets.

"The revenue growth and ongoing expense management initiatives offset planned
increases in sales and programming expenses and investments in the further
expansion of our digital offerings.As a result, third quarter 2013 SOI
increased 5.2% on an actual basis while third quarter SOI margins remain
healthy at 36.4%, essentially in line with year-ago levels.

"In addition to our focus on core programming and expanding our on-air and
digital advertising platforms, we continue to strengthen our balance
sheet.Reflecting solid cash flows from operations, we made repayments
totaling $2.0 million against the credit facility during the third quarter,
reducing borrowings to $110.2 million at September 30, 2013 from $119 million
at the end of last year's third quarter.Our debt and leverage reduction
initiatives over the last few years are delivering strong benefits to our
income statement as third quarter interest expense declined year-over-year by
over 25% or approximately $0.5 million while our leverage ratio is now at its
lowest level in over 10 years.We intend to continue using cash from
operations to further lower debt as well as pursue other initiatives that can
enhance shareholder value.

"Looking forward, we remain focused on our station clusters matching or
exceeding their market's revenue performance and further strengthening our
balance sheet.We have strong station clusters and ratings in key markets and
we are highly focused on generating profitable station and digital revenue
growth.We believe our dual focus on our core content and new media
opportunities positions Beasley Broadcast Group to deliver compelling
entertainment to radio users and a high value media buy for advertisers."

Webcast Information

The Company will host a webcast today, October 25, 2013, at 10:00 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., www.bbgi.com, is a radio
broadcasting company that owns and operates 44 stations (28 FM and 16 AM)
located in eleven large- and mid-size markets in the United States. The
Company also operates one station in the expanded AM band in Augusta, GA.

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 nine months ended September 30, 2013, same-station results exclude
revenue and expenses related to the acquisition of KOAS-FM in Las Vegas during
the 2012 third quarter and the revenue and expenses related to the acquisition
of KVGS-FM in Las Vegas during the 2013 third quarter. For the three and nine
months ended September 30, 2012, same-station results exclude revenue and
expenses related to the acquisition of KOAS-FM in Las Vegas during the 2012
third quarter.

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, 2012.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 October 25, 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      Nine Months Ended
                              September 30,           September 30,
                              2013        2012        2013        2012
Net revenue                    $25,950,102 $24,714,493 $77,618,204 $72,804,066
Operating expenses:                                             
Station operating expenses
(including stock-based
compensation and excluding     16,506,148  15,740,976  49,982,476  45,881,166
depreciation and amortization
shown separately below) ^ (1)
(2)
Corporate general and
administrative expenses        2,157,138   1,940,499   6,380,716   5,921,193
(including stock-based
compensation) ^ (3)
Other operating expenses       185,916     --          185,916     --
Depreciation and amortization  548,184     532,975     1,640,408   1,563,476
Total operating expenses       19,397,386  18,214,450  58,189,516  53,365,835
Operating income              6,552,716   6,500,043   19,428,688  19,438,231
Non-operating income                                            
(expense):
Interest expense               (1,337,605) (1,792,469) (5,711,729) (4,404,625)
Loss on extinguishment of      --          (2,608,158) (1,260,784) (2,608,158)
long-term debt
Other income (expense), net    23,801      (176,460)   106,393     (191,528)
Income before income taxes     5,238,912   1,922,956   12,562,568  12,233,920
Income tax expense            2,052,021   766,033     4,597,221   4,807,931
Net income                     $3,186,891  $1,156,923  $7,965,347  $7,425,989
                                                               
Basic and diluted net income   $0.14       $0.05       $0.35       $0.33
per share
Basic common shares            22,743,515  22,675,427  22,732,535  22,663,680
outstanding
Diluted common shares          22,828,664  22,743,027  22,808,999  22,731,263
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 $7,038 and $4,741 for the three
months ended September 30, 2013 and 2012, respectively and $25,829 and $12,253
for the nine months ended September 30, 2013 and 2012, respectively.

(3) Includes stock-based compensation of $178,531 and $103,322 for the three
months ended September 30, 2013 and 2012, respectively and $480,253 and
$333,766 for the nine months ended September 30, 2013 and 2012, respectively.

                                                             
Selected Balance Sheet Data - Unaudited
(in thousands)
                                                             
                                              September 30,   December 31,
                                              2013            2012
Cash and cash equivalents                     $12,490         $11,661
Working capital                               19,661          20,754
Total assets                                   262,869         259,373
Long term debt, less current portion          104,687         113,250
Total stockholders' equity                    $90,583         $83,049
                                                             
Selected Statement of Cash Flows Data – Unaudited
                                                             
                                              Nine Months Ended September 30,
                                              2013            2012
Net cash provided by operating activities     $14,047,435     $15,598,697
Net cash used in investing activities         (5,965,856)     (3,251,021)
Net cash used in financing activities          (7,252,496)     (14,606,024)
Net increase (decrease) in cash and cash       $829,083        $(2,258,348)
equivalents
                                                             

Calculation of SOI – Unaudited
                                                              
                          Three Months Ended        Nine Months Ended
                          September 30,             September 30,
                          2013         2012         2013         2012
Net revenue                $25,950,102  $24,714,493  $77,618,204  $72,804,066
Station operating expenses (16,506,148) (15,740,976) (49,982,476) (45,881,166)
SOI                        $9,443,954   $8,973,517   $27,635,728  $26,922,900

                                                               
                                                               
Reconciliation of SOI to Net Income - Unaudited
                                                               
                              Three Months Ended      Nine Months Ended
                              September 30,           September 30,
                              2013        2012        2013        2012
SOI                            $9,443,954  $8,973,517  $27,635,728 $26,922,900
Corporate general and          (2,157,138) (1,940,499) (6,380,716) (5,921,193)
administrative expenses
Other operating expenses       (185,916)   --          (185,916)   --
Depreciation and amortization  (548,184)   (532,975)   (1,640,408) (1,563,476)
Interest expense               (1,337,605) (1,792,469) (5,711,729) (4,404,625)
Loss on extinguishment of      --          (2,608,158) (1,260,784) (2,608,158)
long-term debt
Other income (expense), net    23,801      (176,460)   106,393     (191,528)
Income tax expense             (2,052,021) (766,033)   (4,597,221) (4,807,931)
Net income                     $3,186,891  $1,156,923  $7,965,347  $7,425,989
                                                               

                                                               
Calculation of Same-Station SOI - Unaudited
                                                               
                              Three Months Ended      Nine Months Ended
                              September 30,           September 30,
                              2013        2012        2013        2012
Reported net revenue           $25,950,102 $24,714,493 $77,618,204 $72,804,066
KOAS-FM                        (847,470)   (402,507)   (2,604,129) (402,507)
KVGS-FM                        (133,156)   --          (133,156)   --
Same-station net revenue       $24,969,476 $24,311,986 $74,880,919 $72,401,559
                                                               
Reported station operating     $16,506,148 $15,740,976 $49,982,476 $45,881,166
expenses
KOAS-FM                        (400,445)   (230,812)   (1,249,578) (230,812)
KVGS-FM                        (101,322)   --          (101,322)   --
Same-station operating         $16,004,381 $15,510,164 48,631,576  $45,650,354
expenses
                                                               
Same-station net revenue       $24,969,476 $24,311,986 $74,880,919 $72,401,559
Same-station operating         16,004,381  15,510,164  48,631,576  45,650,354
expenses
Same-station SOI               $8,965,095  $8,801,822  $26,249,343 $26,751,205
                                                               

                                                               
Reconciliation of Same-Station SOI to Net Income - Unaudited
                                                               
                              Three Months Ended      Nine Months Ended
                              September 30,           September 30,
                              2013        2012        2013        2012
Same-station SOI               $8,965,095  $8,801,822  $26,249,343 $26,751,205
Same-station net revenue       980,626     402,507     2,737,285   402,507
adjustment
Same-station station operating (501,767)   (230,812)   (1,350,900) (230,812)
expenses adjustment
Corporate general and          (2,157,138) (1,940,499) (6,380,716) (5,921,193)
administrative expenses
Other operating expenses       (185,916)   --          (185,916)   --
Depreciation and amortization  (548,184)   (532,975)   (1,640,408) (1,563,476)
Interest expense               (1,337,605) (1,792,469) (5,711,729) (4,404,625)
Loss on extinguishment of      --          (2,608,158) (1,260,784) (2,608,158)
long-term debt
Other income (expense), net    23,801      (176,460)   106,393     (191,528)
Income tax expense            (2,052,021) (766,033)   (4,597,221) (4,807,931)
Net income                    $3,186,891  $1,156,923  $7,965,347  $7,425,989

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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