Political Comps Hurt Beasley In Q1

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The company reported same-station revenue declined $2 million in the first quarter, blaming 35% of the decrease on the absence of political revenue. The remainder of the decline was partially attributable to the reformatting of a station in Tampa (the old Bubba the Love Sponge station) and integration issues in Philadelphia.

The old Greater Media stations saw a first-quarter revenue decline of 4%, which was attributable to the political spending levels, as well as certain specific integration-related issues in Philadelphia and declines in national revenues.

Beasley CEO Caroline Beasley said Q2 is pacing down in the single digits with April being down 8% and May and June pacing down in the low single-digits. She said the Q2 revenue slowdown was due to national.

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