- Saga Communications, Inc. **sold 22 tower sites** to GTC Uno, LLC for approximately **$10.7 million**.  **[886136_0001104659-25-100831_sga-20251017xex99d1.htm:0]**  The sale closed on **October 17, 2025**, and was effective **October 1, 2025**.  **[886136_0001104659-25-100831_sga-20251017xex99d1.htm:0]** 
- The company will continue to use the sold towers with **no cash lease payment**, making annual lease payments of **$1.00 per annum** for a **25-year term**.  **[886136_0001104659-25-100831_sga-20251017xex99d1.htm:0]** **[886136_0001104659-25-100831_sga-20251017x8k.htm:3]** 
- Approximately **$8.7 million** in sales proceeds were paid to the company, with **$1.8 million** placed into escrow.  **[886136_0001104659-25-100831_sga-20251017x8k.htm:3]** 
- Saga intends to use a portion of the proceeds from the sale to fund **stock buybacks**.  **[886136_0001104659-25-100831_sga-20251017xex99d1.htm:0]** 
- Concurrently, a Fourth Amendment to the Credit Agreement was executed, reducing the aggregate revolving commitments from **$50,000,000 to $40,000,000** and releasing the security interest in the sold assets.  **[886136_0001104659-25-100831_sga-20251017x8k.htm:1]**

Saga Communications Sells Tower Sites and Amends Credit Agreement

- Saga Communications, Inc. (SGA) announced the sale of **22 tower sites** to GTC Uno, LLC for approximately **$10.7 million**.  **[886136_563c845bfd074675bef903466cf8609f_0]** 
- The transaction closed on **October 17, 2025**, and was effective **October 1, 2025**.  **[886136_563c845bfd074675bef903466cf8609f_0]** 
- Saga will continue to use the towers with **no cash lease payment**.  **[886136_563c845bfd074675bef903466cf8609f_0]** 
- The company intends to use a portion of the proceeds from the sale to fund **stock buybacks**.  **[886136_563c845bfd074675bef903466cf8609f_0]**

Saga Communications Sells 22 Tower Sites for $10.7 Million

- 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)