Beasley Broadcast Group Enters Into Definitive Agreement to Acquire WDMK-FM Detroit for $13.5 Million in Accretive Transaction
Beasley Broadcast Group, Inc. - Class A (BBGI)
US:NASDAQ Investor Relations:
bbgi.com/investors-2
Company Research
Source: GlobeNewswire
NAPLES, Fla., June 10, 2019 (GLOBE NEWSWIRE) -- Beasley Broadcast Group, Inc. (Nasdaq: BBGI) (“Beasley” or “the Company”), a large- and mid-size market radio broadcaster, announced today that it entered into a definitive agreement to acquire WDMK-FM and three translators in Detroit, Michigan from Urban One (NASDAQ: UONEK) (“Urban One”) for $13.5 million in cash. Excluding one-time transaction costs, the acquisition of WDMK-FM is expected to be immediately accretive to Beasley’s free cash flow without materially altering the Company’s leverage. Beasley intends to fund the acquisition through borrowings under its credit facility and cash generated from operations. Beasley’s acquisition of WDMK-FM is complementary to the Company’s three existing radio stations and digital operations in the Detroit market, the thirteenth largest designated marketing area in the country, and reflects the Company’s long-term focus on premium local programming and content. Commenting on the proposed tran
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News
- Beasley Broadcast Group Reports Third Quarter Revenue of $58.2 MillionGlobeNewswire
- Beasley Broadcast Group, Inc. (NASDAQ: BBGI) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Beasley Broadcast Group to Report 2024 Third Quarter Financial Results, Host Conference Call and Webcast on November 5 [Yahoo! Finance]Yahoo! Finance
- Beasley Broadcast Group to Report 2024 Third Quarter Financial Results, Host Conference Call and Webcast on November 5GlobeNewswire
- Beasley Broadcast Group, Inc. (NASDAQ: BBGI) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
BBGI
Earnings
- 11/5/24 - Miss
BBGI
Sec Filings
- 11/5/24 - Form 8-K
- 11/4/24 - Form 3
- 10/25/24 - Form 8-K
- BBGI's page on the SEC website