Saga Communications, Inc. Announces Board Approval for Reverse Stock Split

Saga Communications, Inc. Announces Board Approval for Reverse Stock Split

GROSSE POINTE FARMS, Mich., Dec. 30 /PRNewswire-FirstCall/ -- The Board of Directors of the Company has authorized a reverse stock split of its Class A and Class B Common Stock, at a ratio to be determined by our Board of Directors of not more than one-for-four, for the purpose of providing the Company with flexibility with respect to possible listing and trading liquidity opportunities. The Board has reserved the right, depending on market or other circumstances, to determine not to proceed with the reverse stock split. In connection with the foregoing, the Company has filed a preliminary information statement on Schedule 14C with the Securities and Exchange Commission which includes additional information about the reverse stock split. The information statement can be found on the SEC's website under http://www.sec.gov/ and on our corporate website, www.sagacom.com (under the Investors Relations link).

Saga Communications, Inc. is a broadcasting company whose business is devoted to acquiring, developing and operating broadcast properties. The Company owns or operates broadcast properties in 26 markets, including 61 FM and 30 AM radio stations, 3 state radio networks, 2 farm radio networks, 5 television stations and 4 low-power television stations. For additional information, contact us at (313) 886-7070 or visit our website at www.sagacom.com.

This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as "believes," "expects," "anticipates," "guidance" and similar expressions are intended to identify forward-looking statements. Key risks, including risks associated with Saga's ability to effectively integrate the stations it acquires and the impact of federal regulation on Saga's business, are described in the reports Saga Communications, Inc. periodically files with the U.S. Securities and Exchange Commission, including Item 1A of our annual report on Form 10-K. Readers should note that these statements may be impacted by several factors, including national and local economic changes and changes in the radio and television broadcast industry in general, as well as Saga's actual performance. Results may vary from those stated herein and Saga undertakes no obligation to update the information contained here.

First Call Analyst:
FCMN Contact: aparks@sagacom.com

Source: Saga Communications, Inc.

CONTACT: Samuel D. Bush of Saga Communications, Inc., +1-313-886-7070

Web site: http://www.sagacommunications.com/

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Profile: International Entertainment