It appears that Ed Christian’s biggest fan is Daniel Tisch, son of the former CBS owner, Lawrence Tisch. Since we last reported on Tisch’s holdings in Saga Communications he has not stopped buying more shares.
Tisch’s Towerview LLC now owns 532,100 shares of Saga’s publicly traded Class A stock. The most recent purchase, on May 21st, was 1,000 shares at $23.50 each. Even though the stock price is up over 87% so far this year – and a lot more than that from when Tisch first began buying, he has continued to accumulate more Saga shares in the open market.
According to the proxy for Saga’s recent annual shareholders meeting, Tisch is the company’s third largest shareholder. CEO Ed Christian owns over 636,000 shares, including some not yet vested, but most of those shares are super-voting Class B shares which give him voting control of the company. T Rowe Price Associates owns over 590,000 shares through two investment funds.