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| BBGI > SEC Filings for BBGI > Form 8-K on 1-Jun-2009 | All Recent SEC Filings |
1-Jun-2009
Entry into a Material Definitive Agreement, Regulation FD Disclosure,
On May 27, 2009, Beasley Broadcast Group, Inc. (the "Company") and Silver State Broadcasting LLC entered into an Asset Purchase Agreement under which the Company agreed to sell substantially all of the assets used in the operation of radio station KBET-AM and certain assets used in the operation of radio stations KCYE-FM and KFRH-FM in Las Vegas, Nevada for approximately $15.3 million.
The proposed disposition, which is expected to close in the third quarter of 2009, is subject to approval by the Federal Communications Commission and other customary conditions to closing. The Company intends to use the net cash proceeds to repay a portion of the outstanding balance under its credit facility.
On May 29, 2009, the Company issued a press release announcing the transaction described above. A copy of the press release is furnished herewith as Exhibit 99.1.
(d) Exhibits
The following exhibits are furnished with this report pursuant to Item 1.01:
Exhibit
Number Description
99.1 Press Release dated May 29, 2009 of Beasley Broadcast Group, Inc.
(furnished, not filed, for purposes of Section 18 of the Securities
Exchange Act of 1934)
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