---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-107466"
form_type: "8-K"
ticker: "SGA"
cik: "0000886136"
company_name: "SAGA COMMUNICATIONS INC"
filed_at: "2025-11-06T23:59:59+00:00"
generated_at: "2026-05-17T00:07:27.991533+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Saga Q3 net loss $0.08/sh on revenue down 1.8%; tower sale $10.7M

## Summary
- Net revenue $28.2M (-1.8% YoY); station operating expense up 8.7% to $24.7M due to $2.1M retroactive music-license settlement.
- Operating loss $626K vs. income $1.6M last year; net loss $532K ($0.08 diluted loss per share) vs. net income $1.3M.
- Same-station net revenue down 4.8% for nine months; gross political revenue fell to $73K in Q3 from $677K.
- Agreed to sell towers at 22 sites for ~$10.7M cash; received $8.7M net, $1.8M in escrow pending landlord consents.
- Paid Q3 dividend $0.25/sh on Sept 19; intends future regular dividends; capex guidance $3.25-3.75M for 2025.

## SEC filing metadata
- accession: 0001104659-25-107466
- form_type: 8-K
- ticker: SGA
- cik: 0000886136
- company_name: SAGA COMMUNICATIONS INC
- filed_at: 2025-11-06T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/886136/000110465925107466/0001104659-25-107466-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/886136/000110465925107466/sga-20251106x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-107466
- JSON: https://secwatch.observer/filing/0001104659-25-107466.json
- Plain text: https://secwatch.observer/filing/0001104659-25-107466.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.