Below are some comments from Beasley Broadcast Group (ticker: BBGI) from its May 2, 2005 conference call with investors.
On its Miami, FL stations:
[At] WQAM we made some pretty big changes…We had the Howard Stern agreement that we actually took off the air on…January 10th so we realigned our on-air line-up which really we didn't get into full exposure until probably the middle of February so we did have some inconsistencies…and we believed that's what has created the problem for us there.
And our country station…WPOW did go down 12 plus but remained number one in its target demo, 18 to 34.
There have been a lot of changes going on in the Miami market. We feel very, very comfortable about our position there at WPOW. It's been doing the same thing since 1985 and … we feel very comfortable about the future for that radio station as well as WQAM.
On radio station pricing:
..it seems that opportunities... to buy radio stations in '05 are probably going to be better than they have in a long time. However, the multiples are much higher than I had expected….you're going to see more of the privately owned companies and companies backed with private equity step up and pay the higher multiples because those of us who are publicly operated aren't in a position to pay the multiples..
(Quotes are from the CCBN StreetEvents transcript.)