Saga Communications expands its board to eight members, appointing Gregg Sutherland, enhancing strategic and operational expertise.
Quiver AI Summary
Saga Communications, Inc. announced an increase in its Board of Directors from seven to eight members with the appointment of Gregg Sutherland, a former Senior Partner at Ernst & Young and recent Chair of G2M Insights' Board of Advisors. This move aligns with the company's strategy to refresh its board following the addition of Michael Scafidi earlier in 2025, with plans to reduce the board back to seven members by the 2026 Annual Shareholder Meeting. Saga President and CEO Chris Forgy expressed enthusiasm for Sutherland's appointment, highlighting his experience in finance and operations as a valuable asset as the company aims to enhance its digital and various vertical initiatives. Saga operates broadcast properties in 28 markets, including numerous radio stations, and is focused on expanding its core business through additional revenue streams.
Potential Positives
- Appointment of Gregg Sutherland to the Board of Directors adds significant expertise, particularly in strategy consulting and financial operations.
- Increase in board size to eight members reflects the company’s commitment to enhancing governance and board diversity.
- Recent board additions align with Saga’s strategy to scale digital and various vertical initiatives, potentially leading to growth and expanded opportunities.
Potential Negatives
- Increasing the board size to eight members may raise concerns about governance and decision-making efficiency, especially if the company plans to reduce it to seven in the near future.
- The appointment of a new board member, while potentially beneficial, could indicate a lack of stability or confidence in existing board members or leadership.
- The need to refresh the Board of Directors may suggest previous deficiencies or failures in governance that required remedial action.
FAQ
What recent changes were made to Saga Communications' Board of Directors?
Saga Communications increased its Board of Directors to eight members and appointed Gregg Sutherland to the board.
Who is Gregg Sutherland?
Gregg Sutherland is a former Senior Partner at Ernst & Young and the new member of Saga's Board of Directors.
What is the future plan for Saga's Board size?
Saga intends to reduce its Board size back to seven members at the 2026 Annual Shareholder Meeting.
What sectors does Saga Communications operate in?
Saga is a media company focusing on broadcast properties, digital services, e-commerce, and local online news.
How can I contact Saga Communications for more information?
You can contact Saga Communications at (313) 886-7070 or visit their website at www.sagacom.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SGA Insider Trading Activity
$SGA insiders have traded $SGA stock on the open market 25 times in the past 6 months. Of those trades, 0 have been purchases and 25 have been sales.
Here’s a breakdown of recent trading of $SGA stock by insiders over the last 6 months:
- K. CHRISTIAN TRUST EDWARD has made 0 purchases and 25 sales selling 44,739 shares for an estimated $584,640.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SGA Hedge Fund Activity
We have seen 9 institutional investors add shares of $SGA stock to their portfolio, and 11 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GOLDMAN SACHS GROUP INC added 4,869 shares (+48.6%) to their portfolio in Q2 2025, for an estimated $63,297
- DIMENSIONAL FUND ADVISORS LP added 3,716 shares (+1.0%) to their portfolio in Q2 2025, for an estimated $48,308
- MORGAN STANLEY removed 2,276 shares (-16.0%) from their portfolio in Q2 2025, for an estimated $29,588
- BLACKROCK, INC. added 1,674 shares (+1.3%) to their portfolio in Q2 2025, for an estimated $21,762
- RENAISSANCE TECHNOLOGIES LLC removed 1,600 shares (-1.4%) from their portfolio in Q2 2025, for an estimated $20,800
- RAYMOND JAMES FINANCIAL INC added 1,510 shares (+inf%) to their portfolio in Q2 2025, for an estimated $19,630
- UBS GROUP AG removed 893 shares (-8.4%) from their portfolio in Q2 2025, for an estimated $11,609
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
GROSSE POINTE FARMS, Mich., Oct. 01, 2025 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq - SGA) (the “Company,” “Saga,” “we” or “our”) announced today the increase of its number of board members to eight and the appointment of Gregg Sutherland to its Board of Directors.
Mr. Sutherland was previously a Senior Partner at Ernst & Young where he served as the Strategy Consulting Practice Leader, Global and Americas. He was recently appointed as Chair of G2M Insights’ Board of Advisors. He previously served on the Board of Directors at Buckman Laboratories until it was sold to Pritzker Private Capital earlier this year. He holds an MBA from The Wharton School and earned Board Director certification through the National Association of Corporate Directors.
Saga has previously announced its commitment to refreshing the Company’s Board of Directors including adding Michael Scafidi to the Board at the 2025 Annual Shareholder Meeting earlier this year. With Mr. Sutherland’s appointment Saga will increase the size of its Board to 8. Saga’s intent is to return the number of board members to 7 at our 2026 Annual Shareholder Meeting.
Chris Forgy, Saga’s President and CEO stated, “We are delighted to welcome Gregg to Saga’s Board of Directors. Gregg brings a unique blend of boardroom, financial and operations acumen to our board. Saga’s recent additions to the board will greatly assist as we scale our digital and other vertical initiatives.”
Saga is a media company whose business is devoted to acquiring, developing, and operating broadcast properties with a focus on providing opportunities complimentary to our core radio business including digital, e-commerce, local on-line news services, and non-traditional revenue initiatives. Saga owns or operates broadcast properties in 28 markets, including 82 FM and 31 AM radio stations and 79 metro signals. For additional information, contact us at (313) 886-7070 or visit our website at www.sagacom.com .
This press release contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that are based upon current expectations and involve certain risks and uncertainties. Words such as “will,” “may,” “believes,” “intends,” “expects,” “anticipates,” “guidance,” and similar expressions are intended to identify forward-looking statements. The material risks facing our business are described in the reports Saga periodically files with the U.S. Securities and Exchange Commission, including, in particular, Item 1A of our Annual Report on Form 10-K. Readers should note that forward-looking statements may be impacted by several factors, including global, national, and local economic changes and changes in the radio broadcast industry in general as well as Saga’s actual performance. Actual results may vary materially from those described herein and Saga undertakes no obligation to update any information contained herein that constitutes a forward-looking statement.
Contact:
Samuel D. Bush
313/886-7070