Nankival to Lead Saga in Harrisonburg
Saga Communications names Tom Nankival general manager for its Harrisonburg, Virginia operations that includes news/talk WSVA-AM/W221CF, sports talk WHBG-AM, several music stations and digital news
publication RockTownNow.com. Saga COO Wayne Leland states, “Tom understands what makes local media matter. His role at Harrisonburg Media Group positions us to grow our brands and expand the value we deliver to our listeners, readers, and advertisers. We’re excited to have him leading the team.” Nankival comments, “I am thrilled to rejoin Saga as VP and general manager of the Harrisonburg Media Group, which is a shining star in our company. My job is to keep it performing at a high level and serving the Shen Valley community with unwavering commitment and dedication.”
The dividend will be paid on December 12, 2025, to shareholders of record on November 24, 2025. The aggregate amount of the payment to be made in connection with the quarterly dividend will be approximately $1.6 million. The quarterly dividend will be funded by cash on the company’s balance sheet. Including this dividend, Saga Communications will have paid over $141 million in dividends to shareholders since the first special dividend was paid in 2012.
period last year. Saga says this was primarily the result of an industry wide settlement with two music licensing organizations (ASCAP and BMI) resulting in a retroactive rate adjustment of approximately $2.1 million covering the period from January 1, 2022, to the quarter ended September 30, 2025. Station operating expense would have decreased $120 thousand or 0.5% for the quarter without this settlement. For the quarter, Saga had an operating loss of $626 thousand compared to operating income of $1.6 million for the same quarter last year and station operating income decreased $2.5 million to $3.5 million. Without the settlement the operating loss would have been operating income of $1.5 million compared to $1.6 million and station operating income would have been $5.6 compared to $6.0 million for the same quarter last year. Saga reports a net loss of $532,000for the quarter compared to net income of $1.3 million for the third quarter last year. Saga says its balance sheet reflects $34.2 million in cash and short-term investments as of November 3, 2025.
“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. 
The Nashville-based “George Plaster Show,” with co-hosts Kelly Holcomb and Billy Derrick, is now heard on Saga Communications’ sports talk WKFN-AM/W281BT in Clarksville, Tennessee. Clarksville Now reportsPlaster said he’s excited for the opportunity to be here and tap into a new market of sports fans. “I’m very excited about being in Clarksville. For me, this is about adding listeners – listeners who knew me from years ago. I think we’re going to do really well here, it’s a market that has a lot of sports fans, and we just simply want to tap into it.” “The George Plaster Show” will air live from 3:00 pm to 5:00 pm Monday through Friday. 
for the quarter to $22.2 million compared to the same period last year. For the quarter, operating income was $1.4 million compared to $2.1 million for the same quarter last year and station operating income decreased 6.4% to $6.0 million. Saga reports net income of $1.1 million for the quarter compared to the net income of $2.5 million it reported in the second quarter of 2024.
Salzone to operations manager for the 10-station cluster. Salzone will take over for Chris Allinger who is retiring at the end of August. Cayuga Media Group president and GM Chet Osadchey says, “Joe is an incredibly hard-working and knowledgeable broadcast professional. He will be a guiding force in our continued evolution as a local media source.”
decreased 2.2% for the quarter to $22 million compared to the same period last year. Saga reports a net loss of $1.6 million for the quarter consistent with the same period last year. Looking ahead, the company says revenue pacing for the second quarter remains uncertain but is improving as the quarter progresses. For the second quarter Saga is currently pacing down mid-single digits. April was down high-single digits. May improved to being down low-single digits and June is approximately flat with the same period last year.
communicate directly with the Company’s management and directors regarding our views and concerns.” Gate City owns an almost 14% stake in Saga. Melby expresses Gate City’s concerns about Saga, saying, “Gate City’s decision to nominate directors was based on our belief that Saga was determined to pursue its Digital Transformation regardless of the negative impact the transformation could have on Saga’s profitability, cash flow, and share price. Our determination was made following careful analysis and nearly nine months of conversations with the Company’s senior leadership and Board. We repeatedly expressed our concerns 
that Saga lacked the expertise, and the competitive advantages required to succeed in the low-margin and highly competitive digital advertising space. The pursuit of the Digital Transformation would also divert time, attention, and resources away from the Saga’s core broadcast business, where Saga has competitive advantages and earns high incremental margins. Saga also failed to provide investors with any meaningful financial targets or metrics associated with the Digital Transformation including expectations for incremental revenues, costs, margins, and return on investment. Our recommendation that Saga partner with a digitally-savvy company with the capability and experience to execute Saga’s digital strategy without the added costs and risks associated with the transformation was also dismissed.” Melby’s criticism of Saga Communications’ business strategy continues, “In 2024, the Company’s station operating income fell 23.1% year-over-year to $21.1 million, the Company’s operating income fell 79% year-over-year to $2.4 million, and the Company’s operating profit margin fell to 2.1% in 2024 from 10.2% in 2023, a decline of over 800 bps. To make matters worse, this deterioration in financial results occurred during a presidential election year, when Saga should benefit from elevated levels of political spending. Our concern that the pursuit of the Digital Transformation strategy could detract from the Company’s highly profitable broadcast business also appears prescient. On Saga’s Q4 2024 earnings call, the Company noted that it generated $3.3 million in political revenue in 2024. Saga’s 2024 political advertising revenue declined 52% from the $6.9 million generated in 2020 (the last presidential election year) and also fell from the $3.6 million generated in the 2022 midterm election year. The Company’s two largest stations by revenue are located in the battleground states of Ohio and Wisconsin, calling into question the Company’s explanation that Saga’s stations were not in the correct markets. In addition to posting poor financial results, on March 18, 2025, Saga issued a financial filing stating that the Company would be unable to file its 10-K annual report in a timely fashion. This filing further highlights the potential challenges faced by the Company in executing the Digital Transformation.” 
to the same period last year. Saga reports net income of $1.3 million for the quarter compared to net income of $2.5 million for the fourth quarter last year. For the full year of 2024, net revenue was $110.3 million, a decrease of 2.2% from the full year 2023. Net income was $3.5 million for the full year of 2024 compared to $9.5 million for the full year of 2023. 
acquisition of five radio stations and one translator in Lafayette, Indiana on May 31, 2024, and that the stations were operated by Saga for one month during the second quarter of 2024. Saga paid a quarterly dividend of $0.25 per share on June 28, 2024. The aggregate amount of the quarterly dividend was approximately $1.6 million. To date, Saga has paid over $132 million in dividends to shareholders since the first special dividend was paid in 2012. Saga’s balance sheet reflects $24.1 million in cash and short-term investments as of June 30, 2024, and $26.2 million as of August 5, 2024.
passion to continue SRG’s long tradition into the future. The person for this position will need to live in Spencer, Iowa (or surrounding area). We need someone who understands small-market, local radio and is willing to be involved in the community. Knowledge of radio automation software, adobe audition, word press, and general computer experience is preferred. We value creativity and the desire to win! Duties for this position include (but not limited to): 1) Gathering, writing and reading local news stories; 2) Covering some meetings/events; 3) Conducting on-air interviews; 4) Anchoring LIVE, local, severe weather coverage; 5) Compiling/recording local weather data for National Weather Service; 6) Read LIVE market updates on air; 7) Posting local content on our websites/social media platforms. Send your resume and demo to operations manager Kevin Tlam at 
discussions and analysis of local issues.” Charlottesville Radio Group operations manager and WINA program director Paul McDaniel says, “We are thrilled to extend ‘The Schilling Show’ by an hour each weekday. Rob’s ability to connect with the audience and provide insightful commentary has made the show a cornerstone of our programming. This expansion is a testament to his unparalleled work and the loyalty of his listeners.” Schilling comments, “I’m grateful for the opportunity to spend more time daily with my loyal listening audience as we further explore and examine pressing issues of the day. This additional hour will allow for more compelling guests, more in-depth analysis, and most importantly, more time for WINA listeners to engage with their community.”
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.
first quarter compared to the net income of $920,000 it reported in Q1 of 2023. Saga adds that its balance sheet reflects $28.8 million in cash and short-term investments as of March 31, 2024 and $23.7 million as of May 6, 2024. The company expects to spend approximately $5.0 – $5.5 million for capital expenditures during 2024.
They seek someone who understands small-market, local radio and is willing to be involved in the community. Knowledge of radio automation software, Adobe audition, WordPress, and general computer experience is preferred. SRG offers paid vacation and great benefits including – health, vision, dental and 401K. Send your resume and demo! No phone calls. No voicetrack inquiries. Saga Communications of Iowa, LLC is an EOE. Kevin Tlam, Operations Manager, Spencer Radio Group, P.O. Box 260, Spencer, Iowa 51301 
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.
February 20, 2024. The aggregate amount of the payment to be made in connection with the quarterly dividend will be approximately $1.6 million. The quarterly dividend will be funded by cash on the company’s balance sheet. Including this dividend, the company will have paid approximately $127 million in dividends to shareholders since the first special dividend was paid in 2012.
compared to $1.1 million for the same quarter last year and station operating income (a non-GAAP financial measure) decreased 14.7% to $7.6 million. Saga reports a net income of $2.7 million for Q3 2023 compared to the net loss of $104,000 it reported a year ago. The company’s balance sheet reflects $41.7 million in cash and short-term investments as of September 30, 2023. Saga also announces that it is paying a quarterly dividend of $0.25 per share on November 3, 2023 to shareholders of record as of October 11, 2023. The aggregate amount of the quarterly dividend will be approximately $1.5 million.