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Friday, October 13, 2006

Luther King Capital Raises Stake in Beasley Broadcast (BBGI) to 5.8%

In a 13D filing on Beasley Broadcast Group, Inc. (NASDAQ: BBGI), Luther King Capital disclosed a 5.8% stake (461K shares) in the company. This is up from the 55K share stake the firm disclosed in a quarterly filing with regulators.

Luther King Capital said it may engage in communications with one or more shareholders, officers or directors of the Issuer, including discussions regarding the Issuer's operations and strategic direction and ideas that, if effected, could result in, among other things, any of the matters identified in Item 4(a)-(j) of Schedule 13D.

The firm said it paid approximately $3,225,730 to acquire the 461,397 share stake.

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