Now, our radio brands continue to maintain dominant positions in Nielsen, where our PPM market share grew by 2% year-over-year with a key demographic of adults 25-54. And we maintain the highest average PPM cluster share when compared to the other major broadcasters. It’s also important to highlight the success of our company-wide community of caring commitment. From creating ongoing public service initiatives focused on a variety of important topics, such as mental health awareness, to making a direct impact in the lives of our listeners and their families, we remain committed to making a difference in the local communities we serve. As an example, this past November, WMMR-FM, Preston & Steve’s 26th annual Camp Out for Hunger raised over 1.7 million pounds of food and nearly $1 million in cash to benefit individuals and families in need in the Delaware Valley.
It is the single largest food drive of its kind in the entire country. Now let’s take a look at first quarter 2024. As of today, we’re pacing down 4.2% compared to prior year, and on a same-station basis, we’re pacing down 2.3%. As of this writing, we have not received any significant political dollars in the first quarter. As always, we’re very mindful of the current environment, and we will be monitoring our revenue pacing and managing expenses based on such. Our goal remains to improve margins, reduce leverage, and generate free cash flow. So with that, I thank you very much for being on the call today. I do want to acknowledge our team members across the company for everything that they’ve done and are doing. And, Marie, I do think that we do have some questions, so if we could open it up, that would be great.
A – Marie Tedesco: Absolutely. Most of the questions that we received were addressed in our prepared notes, but we have two additional questions that I will address at this point. The first one, Caroline, is can you update us on political expectations for 2024?
Caroline Beasley: Sure. Even though first quarter is light, particularly in Pennsylvania where we thought that we would be receiving more political dollars in first quarter than we actually are going to be, we do still seem to think that we will generate $11 million for the full year. That will be primarily in third and fourth quarters.
Marie Tedesco: Thank you. And the last question then is, does the company own any BMI shares?
Caroline Beasley: Yes, we did own BMI shares and we will receive approximately $6 million as a result of the sale.
Marie Tedesco: Great, thank you.
Caroline Beasley: All right, thank you very much. And as always, should you have any questions, please feel free to contact either Marie or myself. Hope you all have a great day.
Operator: Thank you. This will conclude today’s conference. You may disconnect your lines at this time, and thank you for your participation.
