Naples-based Beasley Media Group is going all in on Vegas.
The company, which owns and operates 61 AM and FM stations in 15 large- and mid-size markets in the United States, recently entered into an asset exchange agreement with Audacy Inc., whereby Beasley will exchange the radio station 720 AM KDWN-AM and the translator for 101.5 FM for Alternative 107.5 KXTE-FM in Las Vegas. As part of the agreement, longtime Las Vegas-based syndicated morning personalities Dave and Mahoney will continue to be heard weekdays from 6 a.m. to 10 a.m. on KXTE-FM under Beasley’s ownership, according to a statement.
The asset exchange highlights Beasley’s focus on premium local programming and content and is complementary to the company’s four other radio stations and digital operations in Las Vegas, say company officials in the statement. Las Vegas is the No. 31 largest designated market in the country.
“Throughout Beasley Broadcast Group’s 61-year history, we have actively managed our station portfolio with the goal of serving the communities where we operate with the best local programming and brands, diversifying our operations, managing risk and improving financial results,” Beasley Broadcast CEO Caroline Beasley says in the release. “The agreement to exchange KDWN AM/FM translator for KXTE-FM addresses all of these strategic objectives and upon completion, will complement our Las Vegas market presence and content with five strong signals in the market.”
The transaction is expected to close in the fourth quarter. Beasley posted $241.26 million in revenue in 2022.