Summary of BEASLEY BROADCAST GROUP INC

Item 1.01 Entry into a Material Definitive Agreement

On March 13, 2009, Beasley Mezzanine Holdings, LLC, a wholly-owned subsidiary of Beasley Broadcast Group, Inc. (the "Company"), entered into the Sixth Amendment to Credit Agreement dated February 27, 2004 by, between and among Beasley Mezzanine Holdings, LLC, Bank of Montreal, Chicago Branch, as Administrative Agent and the Lenders party thereto (as amended by the First Amendment to Credit Agreement, dated June 18, 2004, the Second Amendment to Credit Agreement dated June 27, 2005, the Third Amendment to Credit Agreement dated January 30, 2006, the Fourth Amendment to Credit Agreement dated February 1, 2007, and the Fifth Amendment to Credit Agreement dated April 13, 2007, the "Credit Agreement"). The Sixth Amendment:

Х decreases the aggregate amount of the Revolving Loan Commitments by $37.1 million to $65.0 million;

Х increases the interest rate on borrowings under the facility;

Х increases the Maximum Consolidated Total Debt Ratio until June 30, 2010;

Х prohibits the Company from repurchasing additional shares of its common stock until its consolidated total debt is less than 5 times its consolidated operating cash flow at which time the Company is permitted to repurchase up to an aggregate of $10.0 million of its common stock;

Х permits the Company to repurchase up to $0.5 million of its common stock per year in connection with vesting of restricted stock; and

Х prohibits the Company from paying cash dividends on its common stock until its consolidated total debt is less than 5 times its consolidated operating cash flow at which time the Company is permitted to pay cash dividends in an amount up to an aggregate of $5.0 million per year.

The description of the Sixth Amendment is subject in all respects to the actual provisions of the Sixth Amendment, a copy of which is filed with this Form 8-K as Exhibit 10.1. For additional information about the Credit Agreement, see Exhibit 10.8 to the Company's Form 10-K Annual Report for the period ended December 31, 2003, filed with the Securities and Exchange Commission on March 12, 2004, Exhibit 10.2 to the Company's Form 10-Q Quarterly Report for the period ended June 30, 2004, filed with the Securities and Exchange Commission on August 6, 2004, Exhibit 10.1 to the Company's Form 8-K Current Report filed with the Securities and Exchange Commission on June 30, 2005, Exhibit 10.11 to the Company's Form 10-K Annual Report for the period Ending December 31, 2005, filed with the Securities and Exchange Commission on March 10, 2006, Exhibit 10.1 to the Company's Form 10-Q Quarterly Report for the period ended March 31, 2007, filed with the Securities and Exchange Commission on May 8, 2007, and Exhibit 10.1 to the Company's Form 8-K Current Report filed with the Securities and Exchange Commission on April 18, 2007.