Saga Communications Inc. announces stock split

Business Wire, July 7, 1995

GROSSE POINTE FARMS, MI--(BUSINESS WIRE)--July 7, 1995--Saga Communications Inc. (AMEX:SGA) announced today a five-for-four split of its Class A and Class B Common Stock for holders of record on July 17, 1995, payable July 31, 1995.

As a result of the split, the company's outstanding common stock will increase to approximately 5,648,406 shares of Class A Common and 773,447 shares of Class B Common, from 4,518,725 and 618,758 shares, respectively. The Class B Common is convertible into Class A, on a shares for share basis, and is held by Saga Chairman and CEO, Edward K. Christian.

Saga Chairman and CEO Edward K. Christian stated that "the split is seen as an important step in improving liquidity of our stock and resulting values to our stockholders."

Saga Communications is a broadcasting company whose business is primarily devoted to acquiring, developing and operating broadcast properties. Saga currently owns and operates 15 FM and nine AM radio stations serving nine markets, as well as one television station.

CONTACT: Saga Communications Inc.

Norm McKee, 313/886-7070