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Beasley Broadcast Group Sees 8.8% Revenue Increase in 2nd Quarter

Beasley also has acquired what they call a “white-label digital agency” that will see an influx of cash flow in the next revenue numbers.

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Beasley Broadcast Group revealed an 8.8% revenue increase for the 2nd quarter of the year, compared to 2021 numbers.

The company also explained a $5.4 million operating loss and a net loss of $14.5 million.

“The operating loss in the second quarter of 2022 primarily reflects an $8.6 million non-cash impairment loss due to an increase in the discount rate used in the analyses to estimate the fair value of FCC licenses and goodwill in a rising interest rate environment. For the comparable three months ended June 30, 2021, the company recorded $1.5 million of other operating income, net from life insurance proceeds related to the death of George Beasley, the company’s former chairman. As a result of these factors, Beasley reported a net loss of $14.5 million, or a negative $0.48 per diluted share, in the three months ended June 30, 2022, compared to net income of $0.2 million, or $0.01 per diluted share, in the three months ended June 30, 2021.”

“Beasley delivered another period of strong top-line results in the second quarter, reflecting solid year-over-year growth across all of our revenue sources,” said CEO Caroline Beasley. “Net revenue increased 8.8%, inclusive of a 4.3% rise in audio revenue and a 34.3% rise in digital revenue, with digital accounting for 16.5% of second-quarter net revenue.

“Digital remains a central component of our revenue diversification strategy, and the momentum we are seeing in our digital business is further underpinned by our ability to grow digital revenue 37% on a quarterly sequential basis, while also improving our digital margin. Our new business performance was robust this quarter, as we recorded $7.8 million in new in new business revenue was a 60% increase from the first quarter of the year and a 16% growth year-to-year.

Beasley also has acquired what they call a “white-label digital agency” that will see an influx of cashflow in the next revenue numbers.

“Looking ahead, we will continue to focus on controlling what we can control, maximizing our growth opportunities, managing our expenses and capital structure, serving our audiences and advertisers, and delivering results for our stockholders,” Caroline Beasley said.

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News Radio

Tim Conway Jr.: Social Media Quickens the News Cycle for Stories Like the Baltimore Bridge

“A good buddy of mine, he sent me that literally about 40 minutes after it happened. The video and the story. That’s crazy.”

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A photo of Tim Conway Jr. and the KFI AM-640 logo
(Photo: KFI AM-640)

Social media video of the Francis Scott Key Bridge collapsing in the Baltimore harbor made the rounds Tuesday morning. KFI AM-640 host Tim Conway Jr. believes the way we learned about the tragedy shapes the coverage surrounding it.

While discussing the happenings with KFI reporter Steve Gregory, who has a long history of covering breaking news events, Conway Jr. noted that not only did social media help confirm the validity of the story, but seeing the images spread so quickly shined a spotlight on how fast the news cycle moves now.

“What a great advantage of having Twitter and Facebook and Instagram and then TikTok, all these social media is when something like that happens you know, because it happens so late we would have not ever heard about it or seen anything until the morning news,” said Conway Jr.

“But now with social media you instantly know. A good buddy of mine, he sent me that literally about 40 minutes after it happened. The video and the story. That’s crazy.”

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Michael Riedel: Once You Start Talking About People’s Personal Lives, There’s No Going Back

“If you go down that path, then you’re headed towards National Enquirer territory and as a journalist, you can never really come back from that.”

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(Photo: 710 WOR)

710 WOR morning host Michael Riedel got spent years working as a Broadway reporter and columnist before shifting to the New York news/talker. He has one guiding principle for the radio show that he has kept from his writing days.

Riedel was discussing his previous role at the New York Post with colleague Mark Simone on his midday program and said there are just some things you shouldn’t talk about.

“I got all the backstage stories when I was writing the column about Broadway for the New York Post. You know, celebrities, the leading lady fighting with the producer, lawsuits,” Riedel shared. “But I always drew the line at people’s private lives. Because I thought if you go down that path, then you’re headed towards National Enquirer territory and as a journalist, you can never really come back from that.

“If somebody filed a sexual harassment suit against somebody, I covered those. That’s fine. I mean, as soon as a suit is filed, it’s a matter of public record. I could get into it, but I never got into who’s sleeping with whom and who’s doing this thing. Not to say I didn’t know, and I loved hearing about it, but I drew the line at people’s personal lives when I wrote about them.”

Simone joked that he admired Riedel’s ability to converse with celebrities and know “exactly what that guy would be fascinated by.”

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Howie Carr: MSNBC Hosts Have Too Many Skeletons in Closet to Criticize Ronna McDaniel

“Al Sharpton…is he offended? Brian Williams? Is he still ’emeritus,’ right? How about all the Dateline NBC people who put the bomb in the truck? Mike Barnicle? Is he offended?”

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(Photo: The Howie Carr Show)

NBC News, MSNBC, and Ronna McDaniel have been at the forefront of the news media cycle after her hiring and subsequent removal from the network. Howie Carr believes the entire ordeal is an exercise in hypocrisy.

During The Howie Carr Show, the Boston-based host shared his belief that the reaction from MSNBC hosts like Joe Scarborough, Rachel Maddow, and Lawrence O’Donnell about the hiring of McDaniel reeks of dishonesty.

“Talk about hypocrisy here. NBC is now claiming to be journalists? They’re offended by Rhonda McDaniel, because she makes stuff up,” said Carr.

“Al Sharpton…is he offended? Brian Williams? Is he still ’emeritus,’ right? How about all the Dateline NBC people who put the bomb in the truck? Mike Barnicle? Is he offended? Chuck Todd, former coat-holder for Tom Harkin whose wife made millions working for Bernie Sanders, another very upstanding statesman.

“Joy Reid, who was caught with all the anti-gay, believe anti-Muslim tweets, too? She said she was hacked by a time traveler and asked the FBI to investigate it. And Lawrence O’Donnell, the guy who made up the Deutsche Bank thing that had to apologize? Rachel Maddow, who group came up with Trump’s income taxes return like it was a big scoop and had already put it in a book 20 years earlier? Did Joe Scarborough denounced him from his old congressional office in Fort Walton Beach, Florida where they found a dead girl? They’re appalled by Ronna McDaniel. Appalled.”

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