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Saga Communications, Inc. Message Board

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  • cocoapotomac cocoapotomac Jan 27, 2009 4:45 PM Flag

    Tisch Takeover

    Bush commented to R & R:

    TowerView has been buying SGA shares "for a while now" Saga CFO Sam Bush tells R&R. "We have a very good relationship with them and they told us shares were at a very good value and that they would be buying a more than 10% share of the company."

    Bush said there are no concerns about a corporate takeover. "We are lucky to have a good number of very committed shareholders."

    Saga, which focuses on small and medium radio market properties and has a number of television stations as well, has, like the rest of corporate America, seen its shares plummet in recent months. SGA shares sold at $6 at summer's end but have recently been trading just over a dollar. "This is not a Saga issue," says Bush, "it’s an industry issue."

44.10-0.65(-1.45%)Oct 27 4:00 PMEDT