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Friday, February 12, 2016

Beasley Broadcast Group 2015 Q4 Net Revenue Up 6.2%.

Friday, February 12, 2016
Feb 12th 2016, 13:03, by radioinfo
beasley logoBeasley Broadcast Group 2015 Q4 Net Revenue Up 6.2%.  That figure is based on Beasley's reporting of combined operations – both continuing and discontinued operations – and that's relative to the 2014 Q4 asset swap with CBS RADIO that saw Beasley exchange five radio stations in the Philadelphia and Miami-Fort Lauderdale markets for 14 CBS stations in the Tampa-St. Petersburg, Charlotte and Philadelphia markets.  Net revenue of combined operations for the wholebeasleygeorge of 2015 was $105.9 million, an increase of 4.4% over 2014.  Beasley CEO and chairman George Beasley states, "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.  I am pleased to report that we achieved our goal of our clusters outperforming the markets that report to Miller Kaplan for the first time in December 2015 and expect this trend to continue in 2016.  Success with our integration and profitability initiatives is also reflected in fourth quarter 2015 station operating income of $9 million and an SOI margin of 31.7%, as well as net income of $3.3 million or $0.14 per diluted share."
cbsradio logoCBS RADIO Revenue Dips 5%.  Radio is not the primary focus of CBS Corp. but new CBS chairman, president and CEO Les Moonves has always said he likes the radio business – especially its cash flow.  Radio is lumped in with CBS Television Stations to make up the Local Broadcasting category, but the company breaks the two apart in these reports and radio's revenue was down 5% on "continued softness in the radio advertising marketplace and lower political advertising."  The television sector was down 11% compared the same Q4 period in 2014 – a period that benefitted from mid-term election political spending.
The post Friday, February 12, 2016 appeared first on RadioInfo.