Saga Sells 22 Towers to GTC Uno
Saga Communications agrees to sell 22 of its tower sites to GTC Uno, LLC for approximately $10.7 million. Saga says this transaction will continue to allow the company to use the towers with no cash lease payment. Saga Communications president and CEO Chris Forgy says,
“Saga previously announced its plans to optimize our portfolio of assets, and this is a significant step in doing so. We are committed to evaluating every asset we own while still efficiently and effectively operating our businesses.” The company intends to use a portion of the proceeds from the sale to fund stock buybacks, which may include open market repurchases, public and private block trades or other forms of buybacks. The implementation of any stock buyback program remains at the full discretion of the company’s board of directors.
Leadership Award honorees are: Chris Forgy, president & CEO, Saga Communications; David Kantor, former CEO of Urban One’s Radio Division; Curtis LeGeyt, president & CEO, NAB; Susan Larkin, COO, Audacy; Dennis Lyle, president & CEO, Illinois Broadcasters Association; and Valari Staab, chairman, NBC Universal Local. The 2025 Lowry Mays Excellence in Broadcasting Award honoree is Scott Herman, former COO, CBS Radio, and chair, Broadcasters Foundation of America. The2025 Chairman’s Award honoree is Richard Bodorff, senior counsel, Wiley Law. 
industry, and I’m delighted to welcome him to our board. His input will be valuable as we continue to deliver aid to our colleagues who are in desperate need.” Forgy comments, “I have always believed in giving back to the industry that has allowed me to be of service to local communities. Colleagues who have fallen on extremely difficult circumstances need and deserve our support. I am honored to serve on the board and contribute to the Foundation’s charitable mission.”
million. At the time the deal was announced in February, Saga Communications president and CEO Chris Forgy stated, “We regretted missing the opportunity to acquire these stations a number of years ago when the Neuhoff family acquired them. These stations are a great fit for Saga. We see a lot of opportunity with these stations and this market and are pleased that the family has decided to entrust Saga with continuing these station’s long-standing heritage of serving the Greater Lafayette region. Saga intends to continue building its business in radio by identifying and acquiring middle market stations in dynamic communities.” KALIL & CO., INC was the exclusive broker.
comment as part of his Q4 2023 earnings call yesterday (3/7). The company is already operating ClarksvilleNow.com in the Clarksville, Tennessee market and had forecast to have more markets up and running by the end of this year. He says, “As of today, I’m pleased to announce that we have already generated over $1 million in prebooked revenue for 2024, and the year-end timeline has been accelerated to have not 16 but 18 markets online by the end of – not the end of the year – but by the end of quarter two.”
. Saga Communications president and CEO Chris Forgy comments, “We regretted missing the opportunity to acquire these stations a number of years ago when the Neuhoff family acquired them. These stations are a great fit for Saga. We see a lot of opportunity with these stations and this market and are pleased that the family has decided to entrust Saga with continuing these station’s long-standing heritage of serving the Greater Lafayette region. Saga intends to continue building its business in radio by identifying and acquiring middle market stations in dynamic communities.” KALIL & CO., INC was the exclusive broker.