United States securities and exchange commission logo
July 19, 2023
Samuel D. Bush
Chief Financial Officer
Saga Communications, Inc.
73 Kercheval Avenue
Grosse Pointe Farms, Michigan 48236
Re: Saga Communications
Inc.
Form 10-K for the
Year Ended December 31, 2022
Filed March 16,
2023
8-K filed May 3,
2023
File No. 001-11588
Dear Samuel D. Bush:
We have reviewed your June 29, 2023 response to our comment
letter and have the
following comment. In our comment, we ask you to provide us with
information so we may
better understand your disclosure.
Please respond to this comment within ten business days by
providing the requested
information or advise us as soon as possible when you will respond. If
you do not believe our
comment applies to your facts and circumstances, please tell us why in
your response.
After reviewing your
response to this comment, we may have additional comments.
Form 8-K filed May 3, 2023
Selected Consolidated Financial Data
For the Three Months Ended March 31, 2023 and March 31, 2022, page 3
1. We note your response
to prior comment 2. Please clarify your statement that you do not
view Amount
available for dividends or other corporate purposes as a liquidity or
performance measure and
tell us why you believe each of the reconciling items is
appropriate to arrive
at a non-GAAP measure for which the most directly comparable
GAAP measure is Cash
flows from operating activities. In addition, tell us how you
considered Question
102.07 of the C&DI on Non-GAAP Financial Measures as it does
not appear that you
should imply that this measure represents the residual cash flow
available for
discretionary expenditures.
You may contact Kathryn
Jacobson, Senior Staff Accountant at (202) 551-3365 or Robert
Samuel D. Bush
Saga Communications, Inc.
July 19, 2023
Page 2
Littlepage, Accountant Branch Chief at (202) 551-3361 if you have questions
regarding
comments on the financial statements and related matters.
FirstName LastNameSamuel D. Bush Sincerely,
Comapany NameSaga Communications, Inc.
Division of
Corporation Finance
July 19, 2023 Page 2 Office of Technology
FirstName LastName