BEASLEY MEDIA INITIATES 7% STAFF LAYOFFS

[AMFMTV]

https://radioinsight.com/headlines/2683 ... mcyUYKCvqw_

[MWmetalhead]

They'll be going through Chapter 11 within a year.

[Paul Richards]

I wonder if we may see an eventual sale of any Beasley Detroit stations or translators.

[Realist]

Wondering how this will affect Dave and Chuck the Freak, as their show was originally syndicated on other Beasley rock stations in Boston and Fort Myers…

[MWmetalhead]

Probably won't affect them much if at all. Maybe they lose a supporting cast member at worst.

I suspect many of the laid off individuals are sales and behind the scenes folks + corporate staff.

[SD45]

They put Dave and Chuck on a classic rock station in Tampa. It's been 98.7 The Shark since 2018.

I've heard the show down there once. That station isn't really tearing it up with a 3.2 rating.

They are on another classic rock station in Boston, which is at 2.1 rating.

Based on that it seems Beasley stations aren't that strong in those markets.

[AMFMTV]

RadioInsight update 5/8

Detroit...

Jonel Jaska exits as morning show producer at Classic Hip Hop “105.1 The Bounce” WMGC and weekend host at Rock 101.1 WRIF. Jaska had been with the company since 2016 after previously spending ten years at iHeartMedia Detroit including time on-air and as Production Director and two years as morning host at WSAQ Port Huron MI. Jaska wrote, “Here’s the thing about working in radio. You’re gonna get fired. Usually not because of performance, but because of “budget”. That’s show biz. Hit me up if ya gotta job to fill.

[AMFMTV]

They put Dave and Chuck on a classic rock station in Tampa. It's been 98.7 The Shark since 2018.

I've heard the show down there once. That station isn't really tearing it up with a 3.2 rating.

They are on another classic rock station in Boston, which is at 2.1 rating.

Based on that it seems Beasley stations aren't that strong in those markets.

Classic Hits WROR/Boston does very well.

[MWmetalhead]

They also own 98.5 The Sports Hub in Boston, which is tremendously successful. It's one of the highest billing stations in the entire country.

Rock 92.9 does suck, though. Playlist is garbage.

The Tampa station (98.7 The Shark) performs fairly well in the ratings given its signal limitations. It used to sound just like WBOS musically but wisely pivoted to a more traditional classic rock sound a couple years ago.

[Bail Bonds]

Beasley Media's chopping 7% of their staff, throwing bodies overboard like they're trying to lighten a sinking ship. Meanwhile, some stations are flopping harder than a fish on dry land. Maybe it's time for Beasley to man up, sell the underperformers, and salvage what's left—thankfully, it looks like Dave and Chuck are too big to fail!

[Paul Richards]

If it gets to the point that Beasley has to sell any underperforming stations, I’m sure WDMK 105.9 would end up on the selling block. EMF would most likely be in the market to buy for their Air 1 station to be on a full power in Detroit.

[MWmetalhead]

They overpaid for 105.9 and that group of translators.

Cumulus evidently didn't want to sell 93.1 to a commercial broadcaster. 93.1 sold for about $3 million less than 105.9.

[Paul Richards]

They overpaid for 105.9 and that group of translators.

Cumulus evidently didn't want to sell 93.1 to a commercial broadcaster. 93.1 sold for about $3 million less than 105.9.

What do you think the price tag on 105.9 be without translators?

[MWmetalhead]

If you mean in terms of present day values, probably a range of $8 million to $10 million.

Caroline Beasley is delusional based on her earnings announcement remarks:

"In summary, Beasley's underlying fundamentals-mainly, our local audio and digital platforms and audience engagement-remain strong. We are proud of our teams' steadfast commitment to delivering exceptional content and services to our listeners, advertisers, online users and sports fans, and remain confident that the actions we are taking to transform our company and strengthen our balance sheet, are laying the foundation for future growth and success."

Strong fundamentals??? Who is she kidding? Revenue performance stunk in Q1 and Adjusted EBITDA was a pathetic $0.7 million. The stock is on the verge of being delisted as well.

The 10-Q report for Q1 has not yet been filed.

[Paul Richards]

So do you think we can actually see some of the Beasley Detroit properties on the selling block?