BBGI Beasley Broadcast Group Inc

Beasley Broadcast Group, Inc. (Nasdaq: BBGI), a large- and mid-size market radio broadcaster, today announced that it has entered into a definitive asset purchase agreement with Radio Nevada Corp. to acquire KDWN-AM 720kHz in Las Vegas for approximately $17 million. The exclusive brokerage firm for the transaction is Kalil & Company. Beasley Broadcast Group intends to fund the purchase price with borrowings under its existing credit facility. Following the completion of the proposed acquisition, Beasley Broadcast Group will own a total of four radio stations (3 FMs and 1 AM) in Las Vegas, the nation's 32nd largest radio market when ranked by revenue. George G. Beasley, Chairman and Chief Executive Officer of Beasley Broadcast Group, Inc., commented, "This acquisition broadens our presence in the fast growing Las Vegas market and is consistent with our long-term strategy to develop our clusters to their fullest potential. The addition of KDWN-AM improves an already great cluster, creating additional economies of scale while enabling us to provide more choices for our listeners and a more robust platform for our advertisers." The transaction, scheduled to close early in the third quarter of 2006, is subject to FCC approval and other customary conditions to closing. Founded in 1961, Beasley Broadcast Group, Inc. is a radio broadcasting company that owns or operates 41 stations (26 FM and 15 AM) located in ten large- and mid-size markets in the United States. In the Las Vegas market the Company currently owns 104.3 The Coyote KYCE-FM, Classic Rock 96.3 KKLZ-FM and Star 102.7 KSTJ-FM. Beasley's KSTJ-FM is now broadcasting in crystal clear, CD-quality sound, made possible by HD Radio(TM) technology, for those that own an HD Radio receiver. Note Regarding Forward-Looking Statements: Statements in this release that are "forward-looking statements" are based upon current expectations and assumptions, and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act 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 Securities and Exchange Commission (SEC). Readers should note that these statements are subject to change and to inherent risks and uncertainties and may be impacted by several factors, including: economic and regulatory changes, the loss of key personnel, a downturn in the performance of our large-market radio stations, the Company's substantial debt levels, and changes in the radio broadcast industry generally. The Company's actual performance and results could differ materially because of these factors and other factors discussed in the "Management's Discussion and Analysis of Results of Operations and Financial Condition" of our SEC filings, including but not limited to annual reports on Form 10-K or quarterly reports on Form 10-Q, copies of which can be obtained from the SEC, www.sec.gov, or our website, www.bbgi.com. These statements do not include the potential impact of any acquisitions or dispositions announced or completed after March 24, 2006. All information in this release is as of March 24, 2006, and the Company undertakes no obligation to update the information contained herein to actual results or changes to the Company's expectations.