BBGI Beasley Broadcast Group Inc

Beasley Broadcast Group, Inc. (Nasdaq: BBGI), a large- and mid-size market radio broadcaster, today announced that it has completed the previously announced acquisition of Radio Nevada Corp.'s KDWN-AM 720kHz station in Las Vegas for approximately $17 million. In addition, Beasley Broadcast Group purchased 27 acres of land from Radio Nevada Corp. for $5 million. This property was the subject of an option to purchase in the original asset purchase agreement. KDWN's broadcast tower is located on the acquired land in Henderson, Nevada. Beasley Broadcast Group funded the purchase of KDWN-AM and the land with $16 million of additional borrowings under its existing credit facility with the balance paid in cash. George G. Beasley, Chairman and Chief Executive Officer of Beasley Broadcast Group, Inc., commented, "In addition to building our presence in the fast growing Las Vegas market, KDWN is the only station in Las Vegas that boasts a 50,000 kilowatt signal. As such, KDWN can reach more listeners than any other station in the market and represents an outstanding platform for talk radio programming." In addition to KDWN, 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. Founded in 1961, Beasley Broadcast Group, Inc. is a radio broadcasting company that (reflecting the acquisition of KDWN-AM in Las Vegas) owns or operates 42 stations (26 FM and 16 AM) located in ten large- and mid-size markets in the United States. 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 August 7, 2006. All information in this release is as of August 7, 2006, and the Company undertakes no obligation to update the information contained herein to actual results or changes to the Company's expectations.