In an 8K filing Monday, Beasley Media provided specific revenue details about Philadelphia Country station WXTU-FM. Last week, Beasley announced it was purchasing the station from Entercom for $38 million.
For the twelve months that ended March 31, 2018, WXTU-FM generated approximately $10.2 million of net revenue and approximately $4.5 million of station operating income, according to the filing.
Beasley says after figuring in anticipated synergies from the purchase of the station, the company believes WXTU-FM contributed approximately $5.5 million of incremental station operating income to the company over the same period on a pro forma basis. Excluding one-time transaction costs, Beasley expects the acquisition of WXTU to be immediately accretive to the company’s free cash flow without materially altering its net leverage.
