NAPLES, Florida, October 2, 2014 – Beasley Broadcast Group, Inc. (NASDAQ: BBGI) (“Beasley” or “Beasley Broadcast”), a large- and mid-size market radio broadcaster announced today that it entered into an asset exchange agreement with CBS Radio, whereby Beasley will exchange five stations in Philadelphia and Miami for fourteen CBS Radio stations in Tampa-St. Petersburg, Charlotte and Philadelphia. Pursuant to the terms of the agreement, there is no cash consideration or other contingent consideration to be paid by either party beyond the asset exchange.

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