BBGI 8-K
Beasley Broadcast Group Inc (BBGI)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On April 8, 2026, Beasley Broadcast Group, Inc. issued a press release announcing its financial results for the fiscal quarter ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 to this report.
In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
Exhibit Number |
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Description |
99.1 |
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Press Release dated April 8, 2026 issued by Beasley Broadcast Group, Inc. |
104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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BEASLEY BROADCAST GROUP, INC. |
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Date: |
April 8, 2026 |
By: |
/s/ Caroline Beasley |
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Caroline Beasley |
Exhibit 99.1
Conference Call and Webcast
Today, April 8, 2026 at 11:00 a.m. ET
(800) 715-9871 or +1 (646) 307-1963, conference ID 1613596 or
www.bbgi.com
Replay information provided below
CONTACT: |
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Heidi Raphael |
Ilana Goldstein |
Chief Communications Officer |
Director, IR & Corp. Dev. |
Beasley Broadcast Group, Inc. |
Beasley Broadcast Group, Inc. |
239/263-5000 or [email protected] |
212/835-8500 or [email protected] |
BEASLEY BROADCAST GROUP REPORTS FOURTH QUARTER REVENUE OF $53.1 MILLION
NAPLES, Florida, April 8, 2026 – Beasley Broadcast Group, Inc. (Nasdaq: BBGI) (“Beasley” or the “Company”), a multi-platform media company, today announced operating results for the three-month period ended December 31, 2025. For further information, the Company has posted a presentation to its website regarding the fourth quarter highlights and accomplishments that management will review on today’s conference call.
Fourth Quarter Financial Highlights
In millions, except per share data |
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Three Months Ended |
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Twelve Months Ended |
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2024 |
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2025 |
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2024 |
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2025 |
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Net revenue |
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$ |
67.3 |
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$ |
53.1 |
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$ |
240.3 |
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$ |
205.9 |
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Operating income (loss) |
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7.6 |
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(230.0 |
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13.1 |
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(229.7 |
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Net loss 1 |
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(2.1 |
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(190.1 |
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(5.9 |
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(196.5 |
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Net loss per diluted share 1 |
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(1.17 |
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(105.40 |
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(3.73 |
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(109.27 |
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Adjusted EBITDA (non-GAAP) |
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$ |
10.7 |
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$ |
0.8 |
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$ |
25.8 |
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$ |
10.5 |
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Fourth Quarter 2025 Highlights
FY 2025 Highlights
Beasley Broadcast Group, 4/8/2026 |
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page 2 |
Net revenue during the three months ended December 31, 2025 decreased 21.1% to $53.1 million, or a decrease of 6.8% on a same-station basis excluding $2.7 million of political revenue recorded during the three months ended December 31, 2024. This performance reflects persistent weakness in the traditional agency advertising market that was partially offset by the continued expansion of our high-margin, owned-and-operated direct digital revenues.
Beasley recorded an operating loss of approximately $230.0 million in the fourth quarter of 2025, compared to operating income of $7.6 million in the fourth quarter of 2024, driven primarily by a non-cash FCC license impairment charge of $224.8 million, reflecting the company's updated assessment of the fair value of its broadcast licenses in light of continued secular pressures on the radio industry, as well as $1.7 million in other operating expenses. Excluding these non-cash and non-recurring items, adjusted operating loss was approximately $3.4 million, compared to adjusted operating income of $7.6 million in the prior year quarter, with the decline reflecting lower total revenue, partially offset by continued expense reductions, which have exceeded $30 million in annualized cost reductions over the last 18 months. Interest expense totaled $3.3 million in the fourth quarter of 2025, consistent with prior periods, resulting in a net loss of approximately $189.2 million, or $104.87 per diluted share, compared to a net loss of $2.1 million, or $1.17 per diluted share, in the fourth quarter of 2024.
Adjusted EBITDA was $0.8 million in the fourth quarter of 2025, compared to $10.7 million in the fourth quarter of 2024.
Please refer to the “Reconciliation of Net Loss to Adjusted EBITDA and EBITDA per Indenture” table at the end of this release.
Commenting on the financial results, Caroline Beasley, Chief Executive Officer, said:
“2025 was a year of meaningful transformation for Beasley. Against a persistently challenging advertising environment — marked by continued secular pressure on traditional audio and the ongoing contraction of agency-driven revenue channels — we made tangible progress reshaping this company for long-term value creation. Our digital business delivered record performance, with digital revenue representing approximately 24% of net revenue, up from roughly 19% of net revenue in 2024, and digital segment operating margins reached record levels as our continued shift toward owned-and-operated and programmatic products gained traction across our markets.”
“Operationally, we have fundamentally restructured the cost profile of this business. Over the past 18 months, we have executed approximately $30 million in annualized cost reductions — permanent, structural changes that reflect a leaner and more focused organization built for today's revenue environment.”
“We also took deliberate steps to strengthen our balance sheet and sharpen our portfolio. The sale of WPBB in Tampa, which closed in the third quarter of 2025, and the subsequent sale of our Fort Myers market earlier this year, together generated approximately $26 million in proceeds and reflect our continued focus on concentrating capital behind our highest-performing, highest-potential assets.”
“Building on this progress, we recently announced a debt exchange transaction with our second lien bondholders, pursuant to which we expect to reduce our second lien debt by approximately 50% and repay roughly $15 million of our first lien debt. Upon completion of the transaction, which is subject to bondholder participation and expected to close by the end of April, we anticipate total outstanding debt will be reduced to approximately $110 million from $220 million today. We believe this transaction will meaningfully strengthen our balance sheet, enhance financial flexibility, and better position the Company to execute on its strategic priorities. Following its completion, our focus will shift toward further deleveraging through EBITDA growth and continued portfolio optimization.”
“We remain focused on what we can control — our cost structure, our digital roadmap, our direct local revenue relationships, and the strength of our brands in every market we serve.”
Beasley Broadcast Group, 4/8/2026 |
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page 3 |
Conference Call and Webcast Information
The Company will host a conference call and webcast today, April 8, 2026 at 11:00 a.m. ET to discuss its financial results and operations. To access the conference call, interested parties may dial (800) 715-9871 or +1 (646) 307-1963 conference ID 1613596 (domestic and international callers). Participants can also listen to a live webcast of the call at the Company’s website at www.bbgi.com. Please allow 15 minutes to register and download and install any necessary software. Following its completion, a replay of the webcast can be accessed for five days on the Company’s website, www.bbgi.com.
Questions from analysts, institutional investors and debt holders may be e-mailed to [email protected] at any time up until 9:00 a.m. ET on Tuesday, April 8, 2026. Management will answer as many questions as possible during the conference call and webcast (provided the questions are not addressed in their prepared remarks).
About Beasley Broadcast Group
The Company is a multi-platform media company whose primary business is operating radio stations throughout the United States. The Company offers local and national advertisers integrated marketing solutions across audio, digital and event platforms. The Company owns and operates 49 AM and FM stations in the following large- and mid-size markets in the United States: Augusta, GA, Boston, MA, Charlotte, NC, Detroit, MI, Fayetteville, NC, Las Vegas, NV, Middlesex, NJ, Monmouth, NJ, Morristown, NJ, Philadelphia, PA, and Tampa-Saint Petersburg, FL. Approximately 18 million consumers listen to the Company’s radio stations weekly over-the-air, online and on smartphones and tablets, and millions regularly engage with the Company’s brands and personalities through digital platforms such as Facebook, X, text, apps and email. For more information, please visit www.bbgi.com.
For further information, or to receive future Beasley Broadcast Group news announcements via e-mail, please contact Beasley Broadcast Group, at 239-263-5000 or [email protected].
Definitions
EBITDA is defined as net income (loss) before interest income or expense, income tax expense or benefit, depreciation, and amortization.
Adjusted EBITDA is defined as EBITDA further adjusted to exclude certain, non-operating or other items that we believe are not indicative of the performance of our ongoing operations, such as impairment losses, other income or expense, one-time severance expense, stock-based compensation or equity in earnings of unconsolidated affiliates. See “Reconciliation of Net Loss to Adjusted EBITDA” for additional information.
Adjusted EBITDA is a measure widely used in the media industry. The Company recognizes that because Adjusted EBITDA is not calculated in accordance with GAAP, it is not necessarily comparable to similarly titled measures employed by other companies. However, management believes that Adjusted EBITDA provides meaningful information to investors because it is an important measure of how effectively we operate our business and assists investors in comparing our operating performance with that of other media companies.
EBITDA per Indenture refers to EBITDA as defined by our creditors. The Company recognizes that because EBITDA per Indenture is not calculated in accordance with GAAP, it is not necessarily comparable to similarly titled measures employed by other companies. However, management believes that EBITDA per Indenture provides meaningful information to investors because it reflects how our creditors are benchmarking our performance.
Same-station revenue and same station operating expenses exclude revenue or operating expenses, as applicable, from all divestitures and other operations that were exited in the prior 12 months. These measures provide investors with a clearer view of core business performance by eliminating the impact of portfolio changes and enabling more meaningful year-over-year comparisons. By isolating the performance of continuing operations, same station results offer greater transparency into underlying trends, operational execution, and the effectiveness of strategic initiatives.
New business revenue is defined as revenue from an advertiser that has not advertised in the prior 13 months before the start of the current quarter.
Beasley Broadcast Group, 4/8/2026 |
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page 4 |
Note Regarding Forward-Looking Statements
Words or expressions such as “looking ahead,” “intends,” “believes,” “expects,” “seek,” “will,” “should” or variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements, by their nature, address matters that are, to different degrees, uncertain. Key risks are described in the Company’s reports filed with the Securities and Exchange Commission (“SEC”) including its annual report on Form 10-K and quarterly reports on Form 10-Q. Readers should note that forward-looking statements are subject to change and to inherent risks and uncertainties and may be impacted by several factors, including:
Our actual performance and results could differ materially because of these factors and other factors discussed in our SEC filings, including but not limited to our annual reports on Form 10-K or quarterly reports on Form 10-Q, copies of which can be obtained from the SEC at www.sec.gov, or our website at www.bbgi.com. All information in this release is as of
Beasley Broadcast Group, 4/8/2026 |
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page 5 |
April 8, 2026, and we undertake no obligation to update the information contained herein to actual results or changes to our expectations, except as required by law.
Beasley Broadcast Group, 4/8/2026 |
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page 6 |
BEASLEY BROADCAST GROUP, INC.
Condensed Consolidated Statements of Net Loss - Unaudited
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Three months ended |
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Twelve months ended |
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December 31, |
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December 31, |
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2024 |
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2025 |
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2024 |
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2025 |
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Net revenue |
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$ |
67,285,492 |
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$ |
53,050,405 |
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$ |
240,291,611 |
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$ |
205,939,627 |
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Operating expenses: |
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Operating expenses (including stock-based compensation and excluding depreciation and amortization shown separately below) |
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53,233,833 |
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50,538,991 |
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201,768,757 |
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186,615,256 |
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Corporate expenses (including stock-based compensation) |
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4,688,478 |
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4,414,378 |
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17,272,696 |
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14,364,287 |
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Depreciation and amortization |
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1,780,438 |
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1,560,417 |
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7,236,060 |
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6,331,852 |
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FCC licenses impairment losses |
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— |
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224,815,149 |
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— |
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224,815,149 |
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Goodwill impairment loss |
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— |
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— |
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922,000 |
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|
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— |
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Other operating expenses |
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— |
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1,749,525 |
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— |
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3,487,147 |
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Total operating expenses |
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59,702,749 |
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283,078,460 |
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227,199,513 |
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435,613,691 |
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Operating income (loss) |
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7,582,743 |
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|
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(230,028,055 |
) |
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13,092,098 |
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(229,674,064 |
) |
Non-operating income (expense): |
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Interest expense |
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(3,460,070 |
) |
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(3,279,355 |
) |
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(21,233,027 |
) |
|
|
(13,233,800 |
) |
Debt issuance expenses |
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|
(5,982,414 |
) |
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|
— |
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|
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(5,982,414 |
) |
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— |
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Gain on repurchase of long-term debt |
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— |
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— |
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|
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— |
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525,000 |
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Gain on sale of investment |
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— |
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— |
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6,026,776 |
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|
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— |
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Other income (expense), net |
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247,413 |
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95,241 |
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799,558 |
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1,160,535 |
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Loss before income taxes |
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(1,612,328 |
) |
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(233,212,169 |
) |
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(7,297,009 |
) |
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(241,222,329 |
) |
Income tax expense (benefit) |
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451,058 |
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(43,056,867 |
) |
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(1,344,961 |
) |
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(44,655,757 |
) |
Loss before equity in earnings of unconsolidated affiliates |
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(2,063,386 |
) |
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(190,155,302 |
) |
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(5,952,048 |
) |
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(196,566,572 |
) |
Equity in earnings of unconsolidated affiliates, net of tax |
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4,754 |
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6,260 |
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64,790 |
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16,831 |
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Net loss |
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$ |
(2,058,632 |
) |
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$ |
(190,149,042 |
) |
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$ |
(5,887,258 |
) |
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$ |
(196,549,741 |
) |
Basic and diluted net loss per Class A and Class B common share |
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$ |
(1.17 |
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$ |
(105.40 |
) |
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$ |
(3.73 |
) |
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$ |
(109.27 |
) |
Basic and diluted weighted-average common shares outstanding |
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1,754,092 |
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1,804,041 |
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1,579,744 |
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1,798,760 |
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Selected Balance Sheet Data - Unaudited
(in thousands)
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December 31, |
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December 31, |
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2024 |
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2025 |
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Cash and cash equivalents |
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$ |
13,773 |
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$ |
9,937 |
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Working capital |
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16,303 |
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|
230 |
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Total assets |
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549,207 |
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299,288 |
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Long-term debt, net of unamortized debt issuance costs |
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247,118 |
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235,287 |
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Stockholders' equity (deficit) |
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$ |
147,220 |
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$ |
(49,330 |
) |
Selected Statement of Cash Flows Data – Unaudited
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Twelve months ended |
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December 31, |
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2024 |
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2025 |
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Net cash used in operating activities |
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$ |
(3,711,785 |
) |
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$ |
(8,468,895 |
) |
Net cash provided by investing activities |
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4,322,076 |
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5,637,489 |
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Net cash used in financing activities |
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(13,571,492 |
) |
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(1,004,531 |
) |
Net decrease in cash and cash equivalents |
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$ |
(12,961,201 |
) |
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$ |
(3,835,937 |
) |
Beasley Broadcast Group, 4/8/2026 |
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page 7 |
Reconciliation of Net Loss to Adjusted EBITDA and EBITDA per Indenture – Unaudited
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Three months ended |
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Twelve months ended |
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December 31, |
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December 31, |
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2024 |
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2025 |
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2024 |
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2025 |
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Net loss |
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$ |
(2,058,632 |
) |
|
$ |
(190,149,042 |
) |
|
$ |
(5,887,258 |
) |
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$ |
(196,549,741 |
) |
Interest expense |
|
|
3,460,070 |
|
|
|
3,279,355 |
|
|
|
21,233,027 |
|
|
|
13,233,800 |
|
Income tax expense (benefit) |
|
|
451,058 |
|
|
|
(43,056,867 |
) |
|
|
(1,344,961 |
) |
|
|
(44,655,757 |
) |
Depreciation and amortization |
|
|
1,780,438 |
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|
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1,560,417 |
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|
|
7,236,060 |
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|
|
6,331,852 |
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EBITDA |
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3,632,934 |
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(228,366,137 |
) |
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|
21,236,868 |
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|
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(221,639,846 |
) |
Severance expenses |
|
|
1,195,411 |
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|
|
426,609 |
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|
3,696,913 |
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|
|
2,441,345 |
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Non-recurring expenses |
|
|
— |
|
|
|
535,592 |
|
|
|
— |
|
|
|
1,127,985 |
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Stock-based compensation expenses |
|
|
120,034 |
|
|
|
(24,605 |
) |
|
|
893,292 |
|
|
|
202,802 |
|
FCC licenses impairment losses |
|
|
— |
|
|
|
224,815,149 |
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|
|
— |
|
|
|
224,815,149 |
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Goodwill impairment loss |
|
|
— |
|
|
|
— |
|
|
|
922,000 |
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|
|
— |
|
Debt issuance expenses |
|
|
5,982,414 |
|
|
|
815,000 |
|
|
|
5,982,414 |
|
|
|
815,000 |
|
Other operating expenses |
|
|
— |
|
|
|
2,710,525 |
|
|
|
— |
|
|
|
4,448,147 |
|
Gain on repurchase of long-term debt |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(525,000 |
) |
Gain on sale of investment |
|
|
— |
|
|
|
— |
|
|
|
(6,026,776 |
) |
|
|
— |
|
Other income, net |
|
|
(247,413 |
) |
|
|
(95,241 |
) |
|
|
(799,558 |
) |
|
|
(1,160,535 |
) |
Equity in earnings of unconsolidated affiliates, net of tax |
|
|
(4,754 |
) |
|
|
(6,260 |
) |
|
|
(64,790 |
) |
|
|
(16,831 |
) |
Adjusted EBITDA |
|
|
10,678,626 |
|
|
|
810,632 |
|
|
|
25,840,363 |
|
|
|
10,508,216 |
|
Non-recurring restructuring and reformatting expenses |
|
|
— |
|
|
|
— |
|
|
|
760,637 |
|
|
|
— |
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Contract services |
|
|
92,602 |
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|
|
— |
|
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|
275,936 |
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|
|
— |
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Non-cash trade agreements |
|
|
42,954 |
|
|
|
— |
|
|
|
414,564 |
|
|
|
(349,504 |
) |
Property and franchise taxes |
|
|
555,703 |
|
|
|
258,314 |
|
|
|
1,970,371 |
|
|
|
1,659,321 |
|
Pro-forma cost savings |
|
|
1,136,989 |
|
|
|
106,895 |
|
|
|
2,926,187 |
|
|
|
1,198,835 |
|
EBITDA per Indenture |
|
$ |
12,506,874 |
|
|
$ |
1,175,841 |
|
|
$ |
32,188,058 |
|
|
$ |
13,016,868 |
|
Calculation of Same Station Net Revenue and Operating Expenses – Unaudited
|
|
Three months ended |
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Twelve months ended |
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|
December 31, |
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|
December 31, |
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||||||||||
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
||||
Net revenue |
|
$ |
67,285,492 |
|
|
$ |
53,050,405 |
|
|
$ |
240,291,611 |
|
|
$ |
205,939,627 |
|
Atlanta |
|
|
— |
|
|
|
— |
|
|
|
(965 |
) |
|
|
— |
|
Wilmington |
|
|
— |
|
|
|
— |
|
|
|
(55,117 |
) |
|
|
— |
|
Digital |
|
|
(2,035,625 |
) |
|
|
20,200 |
|
|
|
(9,675,572 |
) |
|
|
(4,897,784 |
) |
Outlaws |
|
|
(1,932 |
) |
|
|
— |
|
|
|
(204,890 |
) |
|
|
— |
|
Same station net revenue |
|
$ |
65,247,935 |
|
|
$ |
53,070,605 |
|
|
$ |
230,355,067 |
|
|
$ |
201,041,843 |
|
|
|
Three months ended |
|
|
Twelve months ended |
|
||||||||||
|
|
December 31, |
|
|
December 31, |
|
||||||||||
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
||||
Operating expenses |
|
$ |
53,233,833 |
|
|
$ |
50,538,991 |
|
|
$ |
201,768,757 |
|
|
$ |
186,615,256 |
|
Atlanta |
|
|
(3,870 |
) |
|
|
— |
|
|
|
(97,014 |
) |
|
|
— |
|
Wilmington |
|
|
— |
|
|
|
— |
|
|
|
(58,060 |
) |
|
|
— |
|
Digital |
|
|
(2,287,767 |
) |
|
|
(32,670 |
) |
|
|
(11,792,818 |
) |
|
|
(5,934,976 |
) |
Outlaws |
|
|
700 |
|
|
|
— |
|
|
|
(903,197 |
) |
|
|
— |
|
Same station operating expenses |
|
$ |
50,942,896 |
|
|
$ |
50,506,321 |
|
|
$ |
188,917,668 |
|
|
$ |
180,680,280 |
|
Beasley Broadcast Group, 4/8/2026 |
|
page 8 |
Calculation of Same Station Audio Net Revenue and Audio Operating Expenses – Unaudited
|
|
Three months ended |
|
|
Twelve months ended |
|
||||||||||
|
|
December 31, |
|
|
December 31, |
|
||||||||||
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
||||
Audio net revenue |
|
$ |
55,813,152 |
|
|
$ |
40,464,755 |
|
|
$ |
193,561,279 |
|
|
$ |
156,467,315 |
|
Atlanta |
|
|
— |
|
|
|
— |
|
|
|
(965 |
) |
|
|
— |
|
Wilmington |
|
|
— |
|
|
|
— |
|
|
|
(55,117 |
) |
|
|
— |
|
Same station audio net revenue |
|
$ |
55,813,152 |
|
|
$ |
40,464,755 |
|
|
$ |
193,505,197 |
|
|
$ |
156,467,315 |
|
|
|
Three months ended |
|
|
Twelve months ended |
|
||||||||||
|
|
December 31, |
|
|
December 31, |
|
||||||||||
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
||||
Audio operating expenses |
|
$ |
43,156,449 |
|
|
$ |
41,600,663 |
|
|
$ |
160,575,045 |
|
|
$ |
148,954,220 |
|
Atlanta |
|
|
(3,870 |
) |
|
|
— |
|
|
|
(97,014 |
) |
|
|
— |
|
Wilmington |
|
|
— |
|
|
|
— |
|
|
|
(58,060 |
) |
|
|
— |
|
Same station audio operating expenses |
|
$ |
43,152,579 |
|
|
$ |
41,600,663 |
|
|
$ |
160,419,971 |
|
|
$ |
148,954,220 |
|
Calculation of Same Station Digital Net Revenue and Digital Operating Expenses – Unaudited
|
|
Three months ended |
|
|
Twelve months ended |
|
||||||||||
|
|
December 31, |
|
|
December 31, |
|
||||||||||
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
||||
Digital net revenue |
|
$ |
11,472,340 |
|
|
$ |
12,585,650 |
|
|
$ |
46,730,332 |
|
|
$ |
49,472,312 |
|
Digital |
|
|
(2,035,625 |
) |
|
|
20,200 |
|
|
|
(9,675,572 |
) |
|
|
(4,897,784 |
) |
Outlaws |
|
|
(1,932 |
) |
|
|
— |
|
|
|
(204,890 |
) |
|
|
— |
|
Same station digital net revenue |
|
$ |
9,434,783 |
|
|
$ |
12,605,850 |
|
|
$ |
36,849,870 |
|
|
$ |
44,574,528 |
|
|
|
Three months ended |
|
|
Twelve months ended |
|
||||||||||
|
|
December 31, |
|
|
December 31, |
|
||||||||||
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
||||
Digital operating expenses |
|
$ |
10,077,384 |
|
|
$ |
8,938,328 |
|
|
$ |
41,193,712 |
|
|
$ |
37,661,036 |
|
Digital |
|
|
(2,287,767 |
) |
|
|
(32,670 |
) |
|
|
(11,792,818 |
) |
|
|
(5,934,976 |
) |
Outlaws |
|
|
700 |
|
|
|
— |
|
|
|
(903,197 |
) |
|
|
— |
|
Same station digital operating expenses |
|
$ |
7,790,317 |
|
|
$ |
8,905,658 |
|
|
$ |
28,497,697 |
|
|
$ |
31,726,060 |
|