Beasley Media Group has had success in the past reworking its debt structure with lenders. In late-2024, nearly all lenders embraced a move that give the company more time to pay back nearly $200 million in loans set to come due in 2026. Now Beasley is back in discussions with lenders to see if there is potentially a new path that can be taken.
This week Beasley exercised an option to use a 30-day grace period on an $10.2 million interest payment that was due on Feb. 1. The company likely had the money to pay as it reported more than $14.3 million in cash at the end of third quarter.
Instead, it tells investors in a regulatory filing that something bigger may in the works. Beasley says it is “actively engaged in discussions” with various stakeholders as they examine a number of potential alternatives regarding a restructuring of the company’s outstanding debt. Beasley says the aim is to strengthen its overall financial flexibility. “At this time, no agreement has been reached regarding the company’s indebtedness and no assurances can be given as to the timing or outcome of this process,” the filing says…