Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Q4 2022 Earnings Call Transcript

Marie Tedesco: I think – I know that was a long question, and I think you got it all. There was a question, is there – is any more cash cost tied to the cost savings actions that were implemented in October? And the answer is actually no. So we accrued and paid out all the related severance expenses in fourth quarter, and none of that is carrying over to first quarter of 2023. And then, Caroline, the last question that we’ll review is, with cash now almost up to $40 million and the bonds trading in the mid-60s, does it make sense to keep buying back some?

Caroline Beasley: Yes. So one of the goals of the company is to reduce our debt and to reduce our leverage. So that aligns very well with the goal – one of the goals of the company. So yes, it would make sense to buy the bonds back at 60%, if you will. We are being very disciplined. We want to see how the beginning of 2023 shapes out and to see if there are any recessionary risks out in the marketplace. And once we feel comfortable with the economy, then we will really focus on the goals of the company.

Marie Tedesco: Perfect. And that concludes the questions.

Caroline Beasley: All right. Well, thank you very much. We really appreciate your questions and you all participating today. Hope you have a great day.

Operator: Thank you. This concludes today’s teleconference. You may disconnect your lines at this time. And thank you for your participation, and have a great day.