BEASLEY BROADCAST GROUP, INC. (NASDAQ:BBGI) Files An 8-K Other Events

ME Staff 8-k
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BEASLEY BROADCAST GROUP, INC. (NASDAQ:BBGI) Files An 8-K Other Events

BEASLEY BROADCAST GROUP, INC. (NASDAQ:BBGI) Files An 8-K Other Events
Item 8.01.

On June 30, 2020, Beasley Broadcast Group, Inc. (the “Company,” “we” or “us”) announced preliminary estimated financial results for the three and six months ended June 30, 2020, as follows:

Preliminary Estimated Financial Results for the Three and Six Months Ended June 30, 2020

Our financial results for the three and six months ended June 30, 2020 are not yet complete. Accordingly, our estimated results below are forward-looking statements based solely on information available to us as of the date of this Current Report on Form 8-K, and we undertake no obligation to update this information, except as may be required by law. Actual results remain subject to the completion of management’s and our audit committee’s reviews and our other financial closing procedures, as well as the completion of the preparation of our unaudited consolidated financial data for the three and six months ended June 30, 2020. During the course of that process, we may identify items that would require us to make adjustments, which may be material, to the information presented below. Accordingly, you should not place undue reliance on these preliminary estimated financial results.

The preliminary financial information included in this Current Report on Form 8-K has been prepared by and is the responsibility of our management. Our independent registered public accounting firm, Crowe LLP, has not audited, reviewed, compiled, or performed any procedures with respect to the preliminary financial results. Accordingly, Crowe LLP does not express an opinion or any other form of assurance with respect thereto. As a result, we have provided ranges, rather than specific amounts, for the estimated financial results below. Our actual results may vary materially from the estimated preliminary results included herein. See “Cautionary Note Regarding Forward-Looking Statements” below for more information.

These preliminary results should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and the related notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019 and our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020. The information presented herein should not be considered a substitute for the financial information to be filed with the SEC in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2020 once it becomes available.

Cautionary Note Regarding Forward-Looking Statements

This report contains “forward-looking statements” about the Company within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future, not past, events. All statements other than statements of historical fact included in this document are forward-looking statements. These forward-looking statements are based on the current beliefs and expectations of the Company’s management and are subject to known and unknown risks and uncertainties. Forward-looking statements, which address the Company’s expected business and financial performance and financial condition, among other matters, contain words such as: “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “may,” “will,” “plans,” “projects,” “could,” “should,” “would,” “seek,” “forecast,” or other similar expressions.

Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements.

Forward-looking statements involve a number of risks and uncertainties, and actual results or events may differ materially from those projected or implied in those statements. Factors that could cause actual results or events to differ materially from these forward-looking statements include, but are not limited to:

Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. We do not intend, and undertake no obligation, to update any forward- looking statement.


About BEASLEY BROADCAST GROUP, INC. (NASDAQ:BBGI)

Beasley Broadcast Group, Inc. is a radio broadcasting company. The Company’s primary business is operating radio stations throughout the United States. The Company owns and operates approximately 69 radio stations in over 16 large- and mid-size markets in the United States. The Company operates in various radio markets, including Atlanta, Georgia; Augusta, Georgia; Boston, Massachusetts; Fayetteville, North Carolina; Fort Myers-Naples, Florida; Greenville-New Bern-Jacksonville, North Carolina; Las Vegas, Nevada; Philadelphia, Pennsylvania; Tampa-Saint Petersburg, Florida; West Palm Beach-Boca Raton, Florida; Wilmington, Delaware; Charlotte, North Carolina; Detroit, Michigan; Middlesex, New Jersey; Monmouth, New Jersey, and Morristown, New Jersey. The Company serves approximately 20.1 million consumers weekly over-the-air, online and on smartphones and tablets. The Company refers to each group of radio stations in each radio market as a market cluster.