The three-month period ending September 30 is shaping up to be a bruising one for the broadcast radio industry. With iHeartMedia seeing fewer political ad dollars than anticipated and Saga Communications experiencing lower Station Operating Income in Q3, Beasley Media Group‘s earnings report arrived late Friday in a bleak environment for AM and FM station owners.
How did the company do? Both adjusted EBITDA and net revenue declined sharply, leading investors to sell “BBGI” shares in immediate after-hours trading on the Nasdaq market.
