In its just released 2025 Q2 earnings report, Beasley Media Group has announced it has sold its five stations in Fort Myers FL to an undisclosed buyer.
Beasley’s revenue for the three months that ended on June 30, 2025 decreased 12.3%, or 11.1% on a same-station basis, to $53.0 million year-over-year. The company says the decrease reflects continued softness in the traditional audio advertising market, which was “partially offset by growth in high-margin owned-and-operated digital revenue, which remains a core focus as we shift away from agency- driven business toward more scalable and profitable direct revenue streams.” The company had an operating income of $2.9 million in the second quarter of 2025, compared to an operating income of $5.4 million in the prior year period. The year-over-year decrease in operating income was primarily driven by a $7.4 million decline in net revenue, which outpaced a $5.0 million reduction in total operating, corporate, and depreciation and amortization expenses. While ongoing cost discipline and recent divestitures drove meaningful operating expense reductions, these savings were not sufficient to fully offset revenue headwinds stemming from softness in the ad market.
Beasley reported a net loss of approximately $0.2 million, or $0.09 per diluted share, in the three months ended June 30, 2025, compared to a net loss of $0.3 million, or $0.18 per diluted share, in the three months ended June 30, 2024. The year-over-year improvement was primarily attributable to a $2.8 million reduction in interest expense and a $0.5 million gain on repurchase of long-term debt, which helped to offset the decline in operating income. Adjusted EBITDA was $4.7 million in the second quarter of 2025, compared to $8.8 million in the second quarter of 2024.
Beasley Media Group CEO Carolina Beasley said, “Our second quarter results reflect continued progress in reshaping our business for long-term profitability. While top-line performance was impacted by advertising softness and ongoing sales execution challenges, we are encouraged by the growth in our high-margin digital offerings and the positive impact of our aggressive cost reduction efforts. We reported an operating income of $2.9 million, highlighting the early benefits of our transformation. Digital revenue now accounts for over 25% of total revenue, and our focus on owned-and-operated platforms and direct sales continues to drive scalable, higher-margin growth. We remain committed to disciplined capital and cost management, while investing in our differentiated content, digital infrastructure, and self-service platforms. With a leaner operating structure, a sharper focus on local and digital-first revenue streams, and an accelerated product roadmap including the introduction of new products and our new self-serve platform launching in Q3 we believe Beasley is better positioned than ever to capture emerging opportunities and deliver sustainable value for our stockholders. As part of our efforts to strengthen our balance sheet and streamline our portfolio, we announced the pending sales of WPBB in Tampa and five stations in Ft. Myers.”
Beasley owns Classic Rock “96 K-Rock” WRXK Bonita Springs, Spanish Tropical “Playa 99.3” WWCN Fort Myers Beach, CHR “B103.9” WXKB Cape Coral, Soft AC “Sunny 106.3” WJPT Fort Myets, Sports “ESPN Southwest Florida” 770 WBCN North Fort Myers/98.1 W251AL Fort Myers/104.3 W282BY Fort Myers, and “Podcast Radio” 101.5 W268AH Bonita Springs/WXKB-HD2 in the Fort Myers market.
This story first appeared on radioinsight.com