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Radio operator boosts sales, profits


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  • | 4:21 p.m. February 15, 2016
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NAPLES — Beasley Broadcast Group says sales and profits rose in the fourth quarter, when the company celebrated the one-year anniversary of a blockbuster deal.

On Dec. 1, 2014, Beasley exchanged five radio stations in the Philadelphia and Miami-Fort Lauderdale markets for 14 CBS radio stations in Tampa-St. Petersburg, Charlotte, N.C., and Philadelphia.

Beasley reported net operating income of $3.3 million on revenues of $28.4 million in the fourth quarter ending Dec. 31. That compares with net operating income of $1.8 million on revenues of $18.6 million in the fourth quarter of 2014.

“Throughout 2015 we implemented a broad range of operating, programming, sales and local strategies intended to extract operating and financial synergies from the stations acquired in the 2014 asset exchange,” says George Beasley, chairman and CEO, in a statement.

“Looking forward, we remain focused on operating our station clusters to match or exceed their market's revenue performance,” Beasley says in a statement. “Our focus on localism supports our solid ratings in most markets, and in 2016 we look forward to benefiting from the programming, personnel, cost-efficiency and operating changes put in place over the last year as well as the return of political advertising.”

Naples-based Beasley owns and operates 52 stations (34 FM and 18 AM) located in twelve large- and mid-size U.S. markets. The company's stock is publicly traded (symbol: BBGI; recent price: $3.50).

 

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