Today was the first I've ever looked at the Yahoo! Message Boards for Saga. I do hold a small position in the company and have always (still do) feel good that it's an EXCELLENT company. I also read, with amusement, the Cumulus message boards. Cumulus is to Saga what apples are to oranges; both are publicly owned broadcast companies but one, Saga, is a REAL player and the other, Cumulus, is a mess. Both companies have outstanding CEO's; Lew Dickey at Cumulus and Ed Christian at Saga. Both have grown their respective companies but...here's where the metal meets the road...Ed's company is solid in every way you can possibly measure a company and Cumulus is fighting for it's very survival.
I formally complained to Yahoo! about a poster on the Cumulus board who posted as Lew Dickey, it's CEO, as being misleading at best and illegal at worst. Someone posted on Cumulus's board that at least Ed Christian (the REAL Ed Christian) posts on Saga's board and "proudly discusses his company with both supporters and cynics!" After reading the Saga boards today I'd agree that is correct.
I personally know Ed and his company is a supplier to ours. I also personally consulted, for years, the station Ed's company bought in Des Moines, and Saga has built that station to levels it NEVER saw before his ownership...an event Saga has sucessfully done repeatedly over and over and over year after year after year...the mark of a GREAT company! To the poster "Staffordites" I suggest you have a clear conflict of interests (you're a buyer in a market served by Saga) and you must have some axe to grind despite your post to the contrary. You will rarely in your lifetime be able to have discourse with somebody as smart and honest as Ed Christian. Get a life! To anyone else considering whether to buy, hold, or sell your Saga shares, I suggest you determine what you want to do based on facts, not pointed jabs or irrational comments.
Saga, in my mind, is the best publicly held Broadcast Company in America; Susquehanna Broadcating, and the company I had the pleasure of working in prior to buying our own Broadcast Company, gets my vote as the best multiple market privately held Broadcast Company.
My name is Sam Bush. I am the Chief Financial Officer of Saga. I want to reply to what appears to be some confusion about several statements made by the Chairman of our company in previous email messages. The use of 12+ numbers by Mr.Christian in his previous posting and by our company in the recent press release are two entirely different uses. Ed's statement is and remains true that 12+ numbers are not used very often in the purchasing of advertising by agencies or even directly by the advertiser. Thus, Ed and I stand by his previous comments. In the press release announcing our most recent acquisitions, the 12+ number is used only as an Arbitron measure of the size of the market (population). In this case it is relevant.
I hope this clarifies the confusion.
Additionally, in light of the new SEC Regulation FD which becomes effective on October 23, 2000, Saga is adopting a policy that management will no longer comment on this or any message board. As always, Saga appreciates the loyalty of our investors, employees and business partners and will continue to keep you informed on the progress of the company through press releases and conference calls.