Beasley Broadcast Group, Inc. reported that the 12-month silent period for WAEC-AM in Atlanta, GA expired and the station's Federal Communications Commission broadcast license was terminated. The company sold the remaining WAEC-AM transmitter equipment to BFT for $0.1M. The filing is presented as a material event notice on an 8-K and documents the closure of WAEC-AM's regulatory status and disposition of physical assets tied to that station.
Beasley Broadcast Group, Inc. registered 300,000 shares of its Class A Common Stock under the 2025 Equity Incentive Award Plan, following Board approval on April 21, 2025 and stockholder approval on June 25, 2025. The registration enables the company to issue equity awards to employees and service providers under the Plan, formalizing the pool of shares available for compensation.
The filing incorporates prior public reports by reference, including the company’s annual report for the fiscal year ended December 31, 2024, quarterly reports for the periods ended March 31, 2025 and June 30, 2025, a current report filed June 26, 2025, and the Class A Common Stock description in the company’s Form 8-A. The company’s General Counsel, Chris Ornelas, rendered an opinion on legality and is disclosed as a holder of shares who is eligible to receive awards under the Plan. Indemnification provisions under Delaware law and the company’s charter and bylaws are summarized in the filing.
Beasley Broadcast Group, Inc. reported weaker top-line results for the quarter and first half of 2025 as audio advertising softened. Consolidated net revenue was $52.99 million for the three months ended June 30, 2025, down 12.3% from the prior-year quarter, with Audio revenue falling to $39.82 million and Digital remaining near prior-year levels at $13.18 million. For the six months, revenue declined 11.2% to $101.91 million. Operating expenses were reduced, and interest expense declined materially versus prior periods, driven by amortization related to the October 2024 debt restructuring.
The company reported a six-month net loss of $2.84 million versus a six-month loss of $0.27 million a year earlier, and a quarter net loss of $0.15 million. Long-term debt carrying value was $239.06 million at June 30, 2025, and the company completed partial repurchases of prior notes, recording a $0.5 million gain. Management expects to receive aggregate proceeds of approximately $26.0 million from planned station asset sales in the second half of 2025 subject to FCC approval, and adopted a new equity incentive plan authorizing up to 300,000 Class A shares.
Beasley Broadcast Group, Inc. furnished an update on its business by reporting that it issued a press release announcing financial results for the fiscal quarter ended June 30, 2025. The company submitted this press release as Exhibit 99.1 to a current report, allowing investors to access a detailed discussion of its quarterly performance. The information contained in the press release and related exhibit is being furnished under the securities laws rather than treated as filed, which affects how it is used for certain liability purposes and in other regulatory documents.