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-0.0273556231003039 -0.0151975683890577 -0.0212765957446808 -0.0243161094224924 -0.0212765957446808 -0.0303951367781155 -0.0303951367781155 -0.0303951367781155
Stock impact report

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 Show less Read more
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