Beasley Cautious About Short-Term Outlook; Cites Short Lead Time on Ad Buys - Radio World

Beasley Cautious About Short-Term Outlook; Cites Short Lead Time on Ad Buys

Beasley Cautious About Short-Term Outlook; Cites Short Lead Time on Ad Buys
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George Beasley is cautious about the outlook for the rest of 2003. Commenting on his company's latest financial report, the chairman and CEO cited a mixed economic outlook and "limited visibility" in Beasley Broadcast Group's markets.
"Our advertisers are continuing to purchase spots less than three weeks in advance, making it difficult to predict long-term revenue trends with certainty. We are encouraged by the strength of local advertising in some of our key markets year-to-date."
In the second quarter, Beasley revenue was up in Miami, Las Vegas and Ft. Myers, Fla., but down in Philadelphia and certain markets near military bases. He said the company continues to focus on limiting growth of operating expenses and cutting its cost of debt.
Beasley Broadcast Group expects net revenue to drop 2% in the third quarter.

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