{"schema_version":"secwatch.filing_event.v1","accession":"0001558370-25-006865","form_type":"8-K","ticker":"SGA","cik":"0000886136","company_name":"SAGA COMMUNICATIONS INC","filed_at":"2025-05-08T23:59:59+00:00","discovered_at":"2026-05-14T18:02:51.621572+00:00","generated_at":"2026-05-22T06:19:39.743450+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Saga Q1 net revenue down 4.3% to $24.2M; non-GAAP station operating income falls to $2.2M","bullets":["Net revenue $24.2M, down 4.3% YoY; net loss $1.6M ($0.25 diluted loss), consistent with prior year.","Station operating income (non-GAAP) fell to $2.2M from $2.8M; operating loss narrowed to $2.3M from $2.4M.","Q2 pacing: currently down mid-single digits; April down high-single, May low-single, June approx flat.","Incurred $110k in expenses related to a Saga shareholder's potential proxy contest.","Declared quarterly dividend $0.25/share; plans to use non-core asset sale proceeds for stock buybacks."],"urls":{"canonical":"https://secwatch.observer/filing/0001558370-25-006865","json":"https://secwatch.observer/filing/0001558370-25-006865.json","markdown":"https://secwatch.observer/filing/0001558370-25-006865.md","text":"https://secwatch.observer/filing/0001558370-25-006865.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/886136/000155837025006865/0001558370-25-006865-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/886136/000155837025006865/sga-20250508x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T06:19:39.743450+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}