Advertisement
Monday, May 9, 2011

Beasley Broadcast Group paid $600,000 for its minority stake in Quu

Beasley From today's TRI Newsletter: Last week Beasley announced it had purchased a minority stake in interactive service provider Quu Inc., along with signing a services contract for its stations. But it did not reveal how large the ownership interest was, or the terms. Now an SEC filing reveals the details: “We paid $0.6 million for 3,278,688 shares of Series B preferred stock and 1,250,000 shares of common stock of Quu Inc.” And what do you get for 600 grand? “We currently hold less than 10% of the voting stock of Quu.”

Previous and Next Stories

Advertisement
Advertisement