Good day, and welcome to the Beasley Broadcast Group 2012 Second Quarter Results Webcast. Today's call is being recorded. At this time, it is my pleasure to turn the call over to Ms. Caroline Beasley. Please go ahead.

Thank you, Maura. Good morning. Before I begin, I'd like to emphasize that this webcast will contain forward-looking statements about our future performance and results of operations that involve risks and uncertainties described in the Risk Factors section of our most recent Form 10-K. Today’s webcast will also contain a discussion of certain non-GAAP financial measures within the meaning of Item 10 of Reg S-K. A reconciliation of these non-GAAP measures with their most directly comparable financial measures calculated and presented in accordance with GAAP can be found in this morning’s news announcement and on our website. I’d also remind listeners that following its completion, a replay of today’s webcast can be accessed for 5 days on our website. My remarks this morning will primarily focus on the second quarter results and our markets. And afterward, Bruce Beasley, our President and COO, and I will address a few questions that were e-mailed over. So overall, Q2 was another quarter where our focus on profitable revenue, expense management and leverage reduction drove growth in SOI and net income, which offset a small revenue decline. Revenue for the second quarter was down 2.8%. This decrease was primarily driven by weakness in the set-go [ph] market and was somewhat attributable to auto. However, we also saw declines in other markets such as Fort Myers and Vegas. The Fort Myers revenue decrease reflects the fact that in the year-ago period, we hosted a concert which contributed approximately $173,000 in net revenue in Q2 '11. However, we also saw a corresponding decline in our Fort Myers expenses this quarter compared to last year due to the concert. In Las Vegas, the revenue decline is related to lower management fees, which is primarily a result of the format change at KVGS last year. And as a…

The first question, Bruce, I'm going to ask you, and the question is, is what are your expectations for political given some of the swing state markets that we're in?

Yes, political to date has been a little disappointing with less than half the spin compared to '08, however, with Beasley in some key swing states, we do expect to see political dollars given the strength of our stations in these markets.

Okay. The second question is, what kind of actions to enhance shareholder value is the company considering now that our leverage is at the lowest level in over 10 years? So I just want to address that. We will continue to shore up our balance sheet and our focus, as I just mentioned, is to reduce debt and reduce leverage. Along with that, though, we did exercise our option to purchase KOAS-FM in the second quarter. This is a station in Las Vegas. So we are bringing this under the Beasley umbrella shortly. We were able to extend the option to purchase KVGS at the same time, and our hope is, at some point in the future, to be able to bring that station under the Beasley umbrella. So we want to continue to build our portfolio to enhance our operating results going forward, however, we will do this in a selective and strategic manner as we're showing with the Vegas station. Finally, with no decision being made, there is the option of dividends and shareholder repurchases in order to return shareholder value. But again, no decisions have been made in that regard. So with that, that addresses a couple of questions we received and our comments. If you have any questions, feel free to call Bruce or myself, and thank you for your time this morning.

Ladies and gentlemen, that does conclude today's call. Once again, thank you, everyone for participating.