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Thursday, October 30, 2014

Beasley Q3 Down 5%


Wilmington and Greenville-New Bern-Jacksonville are the markets that dragged down Beasley in the third quarter. Those two markets offset revenue increase in las Vegas and Fort Myers and caused the company to fall $700,000 short of the same revenue figure it generated in the third quarter of 2013. CEO George Beasley said, "We don?t believe third quarter operating results from continuing operations reflect the strength, ratings and local relevance of our platform, as the lower level of reported net revenue from continuing operations is temporarily mis-matched with certain expenses that will be better amortized across the Company?s larger revenue base once we complete the asset exchange with CBS Radio."On October 1, Beasley agreed to swap five stations in Miami and Philadelphia for 14 CBS stations in Tampa, Charlotte and Philadelphia.

View the original article here