Business
Saga Communications, Inc. Closes on Sale of 22 Tower Sites
GROSSE POINTE FARMS, Mich., Oct. 20, 2025 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq - SGA) (the “Company,” “Saga,” “we” or “our”) announced today the sale of 22 tower sites to GTC Uno, LLC for approximately $10.7 million in a transaction that will continue to allow the Company to use the towers with no cash lease payment. The sale closed on October 17, 2025 and was effective October 1, 2025. Chris Forgy, President and CEO stated “Saga previously announced its plans to optimize our po
About this update from Saga Communications, Inc.
[{"type":"image","alt":"Saga Communications, Inc.","displaySize":"","headline":null,"caption":"Saga Communications, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":112,"url":"https://media.zenfs.com/en/globenewswire.com/35bf2ed9ee454244b6c63ac2b38642c1"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/3B5v7Nv9yKPYpw6TPZYPaQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE1NztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/35bf2ed9ee454244b6c63ac2b38642c1","width":300,"height":112}},"lazy":false},{"type":"text","content":"GROSSE POINTE FARMS, Mich., Oct. 20, 2025 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq - SGA) (the “Company,” “Saga,” “we” or “our”) announced today the sale of 22 tower sites to GTC Uno, LLC for approximately $10.7 million in a transaction that will continue to allow the Company to use the towers with no cash lease payment. The sale closed on October 17, 2025 and was effective October 1, 2025.","length":406,"tagName":"p"},{"type":"text","content":"Chris Forgy, President and CEO stated “Saga previously announced its plans to optimize our portfolio of assets, and this is a significant step in doing so. We are committed to evaluating every asset we own while still efficiently and effectively operating our businesses.”","length":272,"tagName":"p"},{"type":"text","content":"As previously stated, the Company intends to use a portion of the proceeds from the sale to fund stock buybacks, which may include open market repurchases, public and private block trades or other forms of buybacks. The implementation of any stock buyback program remains at the full discretion of the Board and will be determined and announced as plans are developed.","length":368,"tagName":"p"},{"type":"text","content":"Saga is a media company whose business provides radio, digital, e-commerce, local on-line news and non-traditional revenue initiatives. Saga operates in 28 markets and provides services to national, regional and local advertisers to meet their growing advertising needs. For additional information, contact us at (313) 886-7070 or visit our website at www.sagacom.com.","length":368,"tagName":"p"},{"type":"text","content":"This press release contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that are based upon current expectations and in...