Saga Communications is set to become a pure-play radio broadcasting company, and its stock is one of the industry’s strongest performers. Even so, investors seem spooked by advertiser-driven media, given the sell-offs seen this week on Wall Street for a host of radio and TV companies.
Is Saga the “teflon” media company? Perhaps. Its stock is in positive territory after reporting Q2 results showing a slight dip in its net income on statistically flat net revenue.