Naples radio station company grapples with low stock price, $283M in debt

Naples-based radio station and media company Beasley Broadcast Group has had a challenging month — and one industry analyst says 2024 might not be too rosy, either. 

In an Oct. 13 public filing, Beasley says it received written notice from Nasdaq that because its share price was under $1 for 30 consecutive business days, it’s at risk of being delisted from the exchange. The company, traded under the symbol BBGI, closed at $0.79 a share Nov. 10. The last day it closed over $1 a share was Aug. 30, when it closed at $1.01. 

The company, according to its filing with the Securities and Exchange Commission, says it has until April 10, 2024, to “regain compliance.” It can then be eligible for an additional 180-day extension if it satisfies certain Nasdaq requirements.