In a letter to shareholders filed with the company’s annual report, Saga CEO Ed Christian gave a prediction like only Ed Christian could. “If we were in the 1920s, I would defer to Harry Houdini and his friend Arthur Conan Doyle who genuinely believed that Houdini had psychic powers. Unfortunately, all I see is a swirl of events and occurrences that globally could either affect us or leave us in the bubble. I don’t think that 2016 is going to be bad but, at the same time, I don’t envision us dancing in the streets.”
Christian said Saga’s mantra is to be bold, knock the cover off the ball, deliver the magic, but keep the secret sauce to yourself. “We want that swagger. We want everyone to know that we are the consummate professionals and that we care about our communities. Just like in show business…when you have big audiences, you make money.”
About the financial details of the company, Chrisitan told shareholders in 2015 free cash flow increased 2.9% to $21.6 million and Saga has now returned over $34 million in cash to shareholders through dividends since December, 2012. In 2015, Saga used $11.0 million of internally generated cash to purchase its new radio stations in Harrisonburg, VA, and $6.4 million to pay dividends to shareholders.