- Saga Communications is implementing a "blended" digital strategy, which aims to **double its annual gross revenue**, primarily through digital, by disrupting 5% of available digital dollars in search and display in 16 of its 27 markets.  **[0000886136_2172608_2]**  This strategy has shown positive early results, with local direct advertisers who bought the blended product increasing their radio spend by **9%** and their total radio and blended spend by **27%**.  **[0000886136_2172608_2]** 
- The company's digital percentage of total net revenue has increased from **13% to almost 16%** and is projected to reach **65% to 67% of total company revenue** in the future, with a 3-5 year goal of one-third radio, one-third search, and one-third display.  **[0000886136_2172608_4]**  Saga operates in **27 markets**, with **21 smaller than Market 100**, focusing on local direct business.  **[0000886136_2172608_1]** **[0000886136_2172608_3]** 
- Saga maintains a **"pristine balance sheet"** and is pursuing a tower sale expected to generate between **$8 million and $11 million**, with a significant portion of these proceeds committed to a **stock buyback**.  **[0000886136_2172608_0]** **[0000886136_2172608_7]**  The company also intends to continue its **quarterly dividend**.  **[0000886136_2172608_7]** 
- Management believes that demonstrating the successful performance of its blended sales strategy, alongside growth in other initiatives like e-commerce (which grew from **$400,000 to almost $3 million** in approximately 1.5 years), will help narrow the valuation gap with its peers.  **[0000886136_2172608_6]** **[0000886136_2172608_7]** **[0000886136_2172608_8]**

SAGA COMMUNICATIONS (SGA)