Beasley Broadcast Group Closes Acquisition of Six Stations From Centennial Broadcasting.Business Editors LAS VEGAS Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , NEW ORLEANS New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded & NAPLES, Fla.--(BUSINESS WIRE)--Jan. 31, 2001 - Beasley's Operations Expanded Into Las Vegas and New Orleans - Beasley Broadcast Group Beasley Broadcast Group, Inc. NASDAQ: BBGI, based in Naples, Florida, is an owner/operator of radio stations in the United States. As of November, 2006, the company owned 16 AM stations and 26 FM stations. , Inc. (Nasdaq: BBGI BBGI Bloc de Branche Gauche Incomplet (French) ), a large- and mid-size market radio broadcaster, today completed its $113.5 million acquisition of Centennial Broadcasting's KKLZ-FM, KSTJ-FM, and KJUL-FM in Las Vegas and WRNO-FM, KMEZ-FM and WBYU-AM in New Orleans. Las Vegas and New Orleans are the 39th and 42nd largest radio markets, respectively when ranked by revenue. As previously announced, in conjunction with the closing of the transaction Allen Shaw, 57, the President and Chief Executive Officer of Centennial Broadcasting, will be joining Beasley Broadcast Group as Vice Chairman and Co-Chief Operating Officer. Mr. Shaw previously served as the Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Beasley from 1985 to 1990. Commenting on the transaction, Beasley Chairman and Chief Executive Officer George G. Beasley, stated, "We are delighted to add two more top 50 markets to the Beasley Broadcast Group portfolio and to welcome our new Las Vegas and New Orleans teams and Alan Shaw to the Company. Based on our analysis, there is strong growth potential in each of these markets, and we look forward to applying our operating disciplines to help these station groups realize their fullest potential." Founded in 1961, Beasley Broadcast Group, Inc. is a radio broadcasting The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company that, upon completion of pending transactions, will own or operate 44 stations (27 FM and 17 AM) located in eleven large- and mid-sized markets in the United States. This news announcement contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Words or expressions such as "intends", "expects," "expected," "anticipates" or variations of such words and similar expressions are intended to identify such forward-looking statements. Key risks are described in the Company's reports filed with the U.S. Securities and Exchange Commission. Readers should note that these statements may be impacted by several factors, including economic changes and changes in the radio broadcast industry generally. The Company undertakes no obligation to update the information contained herein |
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