Saga Communications Inc is a media company that provides radio digital electronic commerce online news and nontraditional revenue initiatives. As of February 28 2026 the company owned eighty two FM thirty AM radio stations and seventy nine metro signals serving twenty eight markets. Its principal executive offices are located at 73 Kercheval Grosse Pointe Farms Michigan 48236. Saga Communications Inc was originally organized as a Delaware corporation in 1986 and reorganized as a Florida corporation in 2020. The company provides services to national regional and local advertisers to help them meet their growing advertising needs. Its strategy is to operate top billing radio stations in mid sized markets while providing advertisers with integrated marketing solutions that combine the reach and audience engagement of broadcast radio with complementary digital advertising services. Local programming and marketing remain key components of its ability to achieve strong audience positions in its markets. In many of its markets the three or four most highly rated radio stations receive a disproportionately high share of the market’s advertising revenues. These audience relationships form the foundation of the company’s radio advertising business and provide a natural extension into additional marketing services that help advertisers reach the same consumers across digital channels. To complement its broadcast platform the company offers a range of digital advertising services that are typically integrated with radio campaigns. These services include paid search advertising targeted digital display advertising streaming advertising social media advertising online video advertising website based advertising online news services and other related digital marketing services. The company’s digital advertising services are supported by a centralized team of digital implementation specialists who work in conjunction with local market personnel to execute and optimize campaigns. It continues to invest in its growing digital platform by hiring and training digital campaign managers to work alongside local sales teams to assist with campaign implementation performance monitoring and client reporting. Corporate personnel are responsible for training vendor relationships product development and the establishment of best practices across markets. The company concentrates on the development of strong decentralized local management responsible for day to day operations community engagement and advertiser relationships within each of its markets. It compensates local management based on the station’s financial performance as well as other performance factors that are deemed to affect the long term ability of the markets to serve their local communities and to achieve financial performance objectives. Corporate management remains responsible for long range planning strategic initiatives resource allocation and oversight of operating performance.

Saga Communications Inc generates the majority of its revenue from the sale of advertising to local regional and national businesses. Local advertising accounted for approximately one hundred two million nine hundred eighty four thousand dollars or ninety one percent of gross revenue for the year ended December 31 2025. National advertising contributed roughly ten million four hundred twenty three thousand dollars or nine percent of gross revenue in the same period. Digital advertising services produced about sixteen million nine hundred forty seven thousand dollars or fifteen percent of gross revenue with twelve percent from local digital and three percent from national digital. Additional revenue streams include network compensation payments barter arrangements and other miscellaneous transactions. In fiscal 2024 local advertising represented approximately one hundred six million three hundred two thousand dollars or eighty eight percent of gross revenue while national advertising was about thirteen million eight hundred eighty nine thousand dollars or twelve percent of gross revenue. Digital advertising services in fiscal 2024 amounted to roughly fourteen million two hundred twenty one thousand dollars or twelve percent of gross revenue with ten percent from local digital and two percent from national digital. The company also earns income from integrated advertising campaigns that combine broadcast radio spots with targeted digital display paid search streaming social media online video website based and online news services. Advertising rates are based primarily on supply and demand for advertising time a station’s ability to attract audiences within the demographic groups targeted by advertisers the number of stations in the market competing for the same audience and other qualitative factors including rates charged by competing stations within a given market.

Saga Communications Inc operates in a highly competitive radio broadcasting industry where stations vie for listeners and advertising dollars against other radio broadcasters satellite radio streaming audio and video services broadcast and cable television newspapers magazines outdoor advertising direct mail and a growing number of digital advertising providers. The company believes its established local market involvement long standing advertiser relationships strong local presence and experienced sales organizations give it a competitive advantage in offering integrated advertising solutions that combine broadcast audience reach with digital targeting capabilities. Its local sales teams are generally larger than those of competitors and its on air personalities have earned credibility with consumers which translates into increased marketing efficacy for advertisers. By focusing on top billing stations in mid sized markets Saga Communications Inc seeks to maintain strong audience positions and to attract advertisers looking for coordinated multi channel campaigns. The company also benefits from its diversified programming formats which include Classic Hits Country Classic Country Hot Soft Urban Adult Contemporary Oldies Classic Rock Active Rock Top 40 and News Talk allowing it to appeal to a broad range of listener demographics. Its digital services extend the reach of broadcast campaigns by targeting consumers during various stages of the purchasing process through paid search targeted display streaming social media online video website based and online news channels. This integrated approach enables Saga Communications Inc to compete for a broader share of advertising expenditures within the markets it serves by offering advertisers a combination of broadcast audience reach and digital marketing solutions designed to extend and reinforce the effectiveness of their campaigns.

Saga Communications Inc serves a diverse customer base that includes local businesses regional companies and national advertisers seeking to reach consumers in the markets where the company operates. Its customers range from small retail shops and service providers to large corporations and political campaigns that purchase advertising time on its radio stations and digital platforms. The company does not disclose specific customer names in the filing but indicates that it maintains long standing relationships through frequent direct contacts and performance based incentives for its sales staff. By combining broadcast reach with digital targeting the company is able to meet the varied needs of advertisers who wish to build brand awareness drive website visits generate phone calls or increase in store traffic. Its integrated marketing solutions are designed to support measurable outcomes such as impressions clicks website visits calls generated and other indicators of campaign performance.