Saga Communications has repurchased $2.1 million of its own common stock, a move CFO Sam Bush says reinforces the broadcaster’s confidence in its long-term strategy as it balances shareholder returns with continued investment in digital transformation.
184,215 shares were acquired for $11.50 per share. The buyback represents about 2.8% of the company’s outstanding shares, based on 6.56 million as of December 11. Following the transaction, the repurchased shares were returned to treasury and are no longer outstanding.
Bush said the repurchase “underscores our ongoing commitment to deliver value to our shareholders. This transaction reflects our confidence in the company’s long-term strategy and financial strength, while providing us with greater flexibility to manage our capital structure. We remain focused on disciplined capital allocation and generating a meaningful return for all stakeholders.”
For Saga, the transaction reflects a long-term strategy to manage cash reserves while strengthening shareholder value, as stock repurchases reduce the number of shares available on the market and often increase the value of remaining shares. The decision comes as the group continues its ambitious goal of 67% of the broadcaster’s total revenue to come from digital advertising by 2030.
Revenue for Q3 2025 fell 1.8% to $28.2 million, while operating expenses rose $2 million due to retroactive royalty increases under a new ASCAP and BMI settlement, leading to an operating loss of $626,000. Bush noted that without the settlement, Saga would have posted $1.5 million in operating income, roughly flat with last year’s $1.6 million.
Saga expects a tough Q4 comparison due to $2 million in prior-year political revenue but projects another 32% gain in digital performance. The company also highlighted its $10.7 million sale of 22 tower sites as part of ongoing efforts to bolster profitability and reinvest in its digital evolution.
