Florida Panthers left wing Matthew Tkachuk and center Carter Verhaeghe react after a goal by defenseman Gustav Forsling against the Boston Bruins during the second period of Game 2 of the second round of the Stanley Cup playoffs at Amerant Bank Arena in Sunrise on Wednesday, May 8, 2024. (John McCall/South Florida Sun Sentinel)

Following a round of layoffs across Beasley Media Group radio stations, the company has reported a 6% drop in revenue amid a decline in audio advertising.

A day after the parent company of 98.5 The Sports Hub and other Boston stations cut 7% of its workforce, the radio conglomerate released its first quarter financial report.

Beasley’s net revenue during the first three months of the year was $54.4 million — a 5.9% decrease from the previous year’s first quarter revenue of $57.8 million.

Beasley reported an operating loss of $1.1 million in the first quarter, compared to operating income of $0.4 million in the first quarter last year.

The Florida-based company cited a “decline in audio advertising and other revenue due to Beasley’s Wilmington station and esports divestitures as well as ongoing softness in the commercial advertising business, partially offset by growth in digital and political advertising revenue.”

On Tuesday, longtime local DJs were let go by Beasley amid the rash of company layoffs. Those employees who were laid off include Country 102.5 DJ Jackson Blue and 105.7 WROR’s Jaybeau Jones.

Beasley in the first quarter also reported net income of about $8,000, or $0.00 per diluted share — compared to last year’s net loss of $3.5 million, or $0.12 per diluted share. The year-over-year improvement was primarily due to the $6 million gain on the sale of an investment in Broadcast Music, Inc. holdings and lower interest expense.

“In summary, Beasley’s underlying fundamentals — mainly, our local audio and digital platforms and audience engagement — remain strong,” CEO Caroline Beasley said in a statement.

“We are proud of our teams’ steadfast commitment to delivering exceptional content and services to our listeners, advertisers, online users and sports fans, and remain confident that the actions we are taking to transform our company and strengthen our balance sheet, are laying the foundation for future growth and success,” the CEO added.

Other first quarter stats that the company highlighted include:

• Revenue from new customers grew 53% year over year.
• Generated $548,000 in political revenue.
• Local revenue, including digital packages sold locally, accounted for 69% of total revenue.
• Digital revenue grew 10% year-over-year, or 20% year-over-year on a same station basis, to $11 million.
• Digital revenue accounted for 20% of total company revenue.
• 38% of its total audience listens via the company’s digital platforms.

The highest-paid mayor in the U.S. could soon come from a coastal New England town best known for its naval warship museum and ties to two U.S. presidents.

Quincy, a Boston suburb with a population of about 100,000, is preparing to sign off on a recommended 87% to 133% pay increase for its long-serving mayor, Thomas Koch.

Koch, who started his seventh term this year, currently makes about $159,000 has not taken a pay raise in nearly a decade. He took office in 2008.

“By any standard, that’s a bit of a long period of time, particularly given some of the price level changes we’ve had recently,” consultants hired to assess his salary said at last week’s city council meeting. “Setting a static level and leaving it static for nine years, like has been the case, is probably not optimal.”

The potential raise was not reflected in the proposed budget brought to the council on May 6. Koch said he will be “bringing in a separate order the next council meeting” on May 20 “to deal with the mayor’s and the city councilors’ raises.”

“We’ll make the adjustment as needed in the budget,” Koch said Monday night.

Dorminson Consulting of Boston suggested officials consider a $298,000 to $370,000 salary for Koch. The proposed $370,000 salary would be a $211,000 raise, or about a 133% increase from Koch’s current pay. If the council signs off on the higher end of the suggested range, it would make Koch the highest paid mayor in America.

The firm told the councilors they took into account the city’s population, consumer price index and a survey of more than 1,200 mayors and city managers’ salaries.

At Monday’s city council meeting, Koch called Quincy’s budget “stable,” with the city not needing to make any layoffs or cuts, unlike many of its neighbors.

“Quincy’s been on a pretty good run. We don’t live here, but we are financial economists at heart, and we know what we’re looking at. You’re on a good run,” the consultants told officials. “The consequential effects of trying to undercut quality is going to be tough to overcome.”

Quincy is the seventh-largest city in Massachusetts. A one-time major producer of granite, the city touts its status as the birthplace of former Presidents John Adams and his son John Quincy Adams as well as John Hancock. Perhaps more culturally important for Massachusetts residents, it’s also where Dunkin’ Donuts was founded.

The mayor of San Francisco, London Breed, is currently the highest earning mayor in the country, with a salary of about $357,000. Los Angeles Mayor Karen Bass comes in second with a salary of $301,000.

New York City Mayor Eric Adams was the city’s 418th highest-paid employee in 2023, with a salary of about $258,000.

In 2022, Boston Mayor Michelle Wu’s salary was upped to to $250,000 starting in 2026. Massachusetts’ second-largest city, Worcester, pays City Manager Eric Batista a salary of $313,000.