December 03, 2016 5:26 AM ET

Media

Company Overview of Beasley Broadcast Group Inc.

Company Overview

Beasley Broadcast Group, Inc., a radio broadcasting company, operates radio stations primarily in the United States. The company owns and operates 69 stations, including 50 FM and 19 AM stations located in 16 large- and mid-size markets. Beasley Broadcast Group, Inc. was founded in 1961 and is headquartered in Naples, Florida.

3033 Riviera Drive

Suite 200

Naples, FL 34103

United States

Founded in 1961

483 Employees

Phone:

239-263-5000

Fax:

239-263-8191

Key Executives for Beasley Broadcast Group Inc.

Interim Chief Executive Officer, Executive Vice President, Chief Financial Officer, Treasurer, Secretary and Director
Age: 53
Total Annual Compensation: $452.7K
President and Director
Age: 58
Total Annual Compensation: $472.1K
Founder, Chairman and Chief Executive Officer (Leave of Absence)
Age: 84
Total Annual Compensation: $725.8K
Compensation as of Fiscal Year 2015.

Beasley Broadcast Group Inc. Key Developments

Beasley Broadcast Group Inc. Announces Executive Changes

On November 2, 2016, the Board of Directors of Beasley Broadcast Group Inc. announced that George G. Beasley informed the board that he will resign from his position as Chief Executive Officer of the company, effective December 31, 2016. Mr. Beasley will continue to serve as Chairman of the board. Also on November 2, 2016, the board announced the appointment of Caroline Beasley to serve as Chief Executive Officer and Marie Tedesco to serve as Chief Financial officer, each effective January 1, 2017. Ms. Beasley currently serves as Interim Chief Executive Officer, Executive Vice President, Chief Financial Officer, Treasurer and Secretary of the company. Ms. Tedesco currently serves as the company's Vice President of Finance. Caroline Beasley joined the company in 1983 and since that time has served in various capacities including Business Manager, Assistant Controller and Corporate Controller. Ms. Beasley currently serves on the Board of Directors of the National Association of Broadcasters and on the Board of Directors of Broadcast Music Inc. She is also a member of the University of North Carolina Board of Visitors. She previously served on the Board of Directors of the Radio Music License Committee and on the Board of Directors and the Radio Executive Committee of the National Association of Broadcasters. Ms. Beasley has a B.S. from the University of North Carolina. Marie Tedesco, age 55, has served as the company's Vice President of Finance since 2000. Ms. Tedesco began her radio career in Los Angeles in 1982 working with Radio & Records, Westwood One and NBC Radio, where she was involved in the launching of Pirate Radio in 1989. In 1991, Ms. Tedesco joined the company as Corporate Controller and was later promoted to Vice President of Finance.

Beasley Broadcast Group Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016

Beasley Broadcast Group Inc. announced earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported Net revenue of $27,729,026 compared with $26,264,321 for the same period a year ago. Operating income was $3,797,625 compared with loss of $79,683 for the same period a year ago. Income before income taxes was $3,258,373 compared with loss of $1,141,872 for the same period a year ago. Net income was $1,694,368 compared with loss of $737,939 for the same period a year ago. Diluted net income per share was $0.07 compared with loss per share of $0.03 for the same period a year ago. The $1.5 million, or 5.6%, year-over-year increase in net revenue during the three months ended September 30, 2016, primarily reflects higher revenue from the company’s Tampa-St. Petersburg, Charlotte and Fayetteville market clusters. For the nine months, the company reported net revenue of $82,961,354 compared with $77,539,498 for the same period a year ago. Operating income was $12,699,236 compared with $7,589,201 for the same period a year ago. Income before income taxes was $10,502,311 compared with $5,128,502 for the same period a year ago. Net income was $5,984,599 compared with $3,092,487 for the same period a year ago. Diluted net income per was $0.26 compared with $0.13 for the same period a year ago. Net cash provided by operating activities was $13,138,473 compared with $9,917,359 for the same period a year ago. Operating income, net income and net income per diluted share for the three and nine month periods ended September 30, 2016 were impacted by merger expenses of $1.2 million.

Beasley Broadcast Group Inc. to Report Q3, 2016 Results on Nov 02, 2016

Beasley Broadcast Group Inc. announced that they will report Q3, 2016 results at 9:00 AM, Eastern Standard Time on Nov 02, 2016

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 17, 2016
Beasley Broadcast Group, Inc., WBT-FM, WLNK-FM, WBT-AM, WFNZ-AM radio stations and an FM translator
Merger/Acquisition
July 19, 2016
Greater Media, Inc.
 

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