Beasley Broadcasting Group (BBGI) Reports Q2 EPS of $0.07; Names New CEO

November 2, 2016 8:29 AM EDT
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Beasley Broadcasting Group (NASDAQ: BBGI) reported Q2 EPS of $0.07, versus ($0.03) reported last year. Revenue for the quarter came in at $27.7 million, versus $26.3 million reported last year.

Management Transition

Effective January 1, 2017, Caroline Beasley has been appointed Chief Executive Officer and Marie Tedesco has been appointed Chief Financial Officer. George Beasley, the Company’s founder remains Chairman of the Board.

Caroline Beasley previously served as the Company’s Vice President, Chief Financial Officer, Treasurer and Secretary since 1994. Ms. Beasley is a past Chairman of the Radio Board for the National Association of Broadcasters (NAB). She was asked to join the distinguished NAB Board of Directors in 2005 and has served as the Radio Board’s first and second Vice-Chairman as well as a member of the NAB’s Executive Committee. Additionally, Caroline is a trustee of the National Association of Broadcasters Political Action Committee, and serves as a Board member of Broadcast Music, Inc. (BMI) and the Broadcasters Foundation of America. Honored by Radio INK magazine as one of the “40 Most Powerful People in Radio” in 2011, 2012 and 2016, Caroline has also been recognized in the magazine’s “Most Influential Women in Radio” listing every year since 2003.

A graduate of University of North Carolina Chapel Hill, in 2014 the University of North Carolina Chapel Hill Board of Trustees elected Ms. Beasley to serve as a member of the UNC Board of Visitors. She has also served on the boards of two publicly traded companies that are not affiliated with radio broadcasting, including as Director and Audit Committee Member of Bank of Florida, Naples and Director and Audit Committee member of Summit America Television.

Marie Tedesco previously served as the Company’s Vice President of Finance since 2000. Ms. Tedesco began her radio career in Los Angeles in 1982 working with Radio & Records, Westwood One and NBC Radio, where she was involved in the launching of Pirate Radio in 1989. In 1991, Ms. Tedesco joined Beasley Broadcast Group, Inc. as Corporate Controller. She was later promoted to Vice President of Finance. She graduated from UCLA with a B.S. in Finance.

For earnings history and earnings-related data on Beasley Broadcasting Group (BBGI) click here.

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