Beasley Media Group has filed its sales of its Fort Myers cluster with the FCC.
The Jim Schwartzel led Sun Broadcasting will purchase Classic Rock “96 K-Rock” WRXK Bonita Springs, CHR “B103.9” WXKB Cape Coral and “Podcast Radio” 96.5 W243BM/101.5 W268AH/105.1 W286AK/WXKB-HD2 for $9 million. Sun already owns Conservative Talk “92.5 Fox News” WFSX-FM, “93.7 Trump Country” WHEL, Classic Rock “94.5 The Arrow” WARO, Hip Hop “Fly 98.5” WFFY, and Sports “Fox Sports SWFL” 94.1 W231DC/103.3 W277AP/105.9 W290DB in the Fort Myers market along with four television stations. Because the combined cluster will own six FMs in a market where the cap is currently seven stations total and four on one band, Sun is seeking a waiver to circumvent the ownership caps.
The same is true for Fort Myers Broadcasting, which seeks to add Spanish CHR “Playa 99.3” WWCN, Soft AC “Sunny 106.3” WJPT and Sports “ESPN Southwest Florida” 770 WBCN/98.1 W251AL/104.3 W282BY for $9 million to join with its AC 96.9 WINK-FM, Spanish CHR “97.7 Latino” WTLQ, Soft AC 101.1 WAVV, Spanish Tropical “Maxima 95.7/97.3” W239CL/W247CR/WTLQ-HD2, Regional Mexican “La Raza 107.9” W300EF/WAVV-HD2 and CBS affiliate WINK-TV. That deal will give FMBC five FMs and it is also seeking a failing station waiver to override the ownership cap.
Both Sun Broadcasting and FMBC operate from the same building under a Shared Services Agreement where Sun rents space in the WINK Broadcast Center from Fort Myers Broadcasting and purchases engineering, IT, master control and administrative services. There are also shared employees that they are paid separately by each company.
Original Report 8/12: In its just released 2025 Q2 earnings report, Beasley Media Group has announced it has sold its five stations in Fort Myers FL to undisclosed buyers.
On its earning call, Beasley CEO Caroline Beasley said that the company will receive $18 million for the Fort Myers cluster, which will be split in two deals. Classic Rock “96 K-Rock” WRXK Bonita Springs and CHR “B103.9” WXKB Cape Coral will go to one buyer for $9 million. Spanish Tropical “Playa 99.3” WWCN Fort Myers Beach, Soft AC “Sunny 106.3” WJPT Fort Myers, and Sports “ESPN Southwest Florida” 770 WBCN North Fort Myers/98.1 W251AL Fort Myers/104.3 W282BY Fort Myers will go to another buyer for $9 million.
Beasley’s revenue for the three months that ended on June 30, 2025 decreased 12.3%, or 11.1% on a same-station basis, to $53.0 million year-over-year. The company says the decrease reflects continued softness in the traditional audio advertising market, which was “partially offset by growth in high-margin owned-and-operated digital revenue, which remains a core focus as we shift away from agency- driven business toward more scalable and profitable direct revenue streams.” The company had an operating income of $2.9 million in the second quarter of 2025, compared to an operating income of $5.4 million in the prior year period. The year-over-year decrease in operating income was primarily driven by a $7.4 million decline in net revenue, which outpaced a $5.0 million reduction in total operating, corporate, and depreciation and amortization expenses. While ongoing cost discipline and recent divestitures drove meaningful operating expense reductions, these savings were not sufficient to fully offset revenue headwinds stemming from softness in the ad market.
Beasley reported a net loss of approximately $0.2 million, or $0.09 per diluted share, in the three months ended June 30, 2025, compared to a net loss of $0.3 million, or $0.18 per diluted share, in the three months ended June 30, 2024. The year-over-year improvement was primarily attributable to a $2.8 million reduction in interest expense and a $0.5 million gain on repurchase of long-term debt, which helped to offset the decline in operating income. Adjusted EBITDA was $4.7 million in the second quarter of 2025, compared to $8.8 million in the second quarter of 2024.
Beasley Media Group CEO Carolina Beasley said, “Our second quarter results reflect continued progress in reshaping our business for long-term profitability. While top-line performance was impacted by advertising softness and ongoing sales execution challenges, we are encouraged by the growth in our high-margin digital offerings and the positive impact of our aggressive cost reduction efforts. We reported an operating income of $2.9 million, highlighting the early benefits of our transformation. Digital revenue now accounts for over 25% of total revenue, and our focus on owned-and-operated platforms and direct sales continues to drive scalable, higher-margin growth. We remain committed to disciplined capital and cost management, while investing in our differentiated content, digital infrastructure, and self-service platforms. With a leaner operating structure, a sharper focus on local and digital-first revenue streams, and an accelerated product roadmap including the introduction of new products and our new self-serve platform launching in Q3 we believe Beasley is better positioned than ever to capture emerging opportunities and deliver sustainable value for our stockholders. As part of our efforts to strengthen our balance sheet and streamline our portfolio, we announced the pending sales of WPBB in Tampa and five stations in Ft. Myers.”
