Saga Accrues Cash In Anticipation Of Nielsen Agreement
November 10, 2014 at 4:23 AM (PT)
On the conference call after the release of SAGA COMMUNICATIONS' third-quarter financial results, CFO SAM BUSH said that the company's operating expenses increased $2.8 million primarily due to anticipation that SAGA will enter licensing agreements with NIELSEN "sometime in the fourth quarter," which indicates a settlement in NIELSEN's lawsuit against the broadcaster is coming soon.
BUSH said that he expects "there will be an additional charge in the fourth quarter once the agreements are finalized. Our expectations of the amount is that it will be significantly less than the third-quarter accrual."
Pres./CEO ED CHRISTIAN took most of his time to talk to analysts about programmatic buying, saying that the company knows "that we can no longer ignore what is coming. We need to do with craftsmanship our interesting core competencies in broadcast sales and embrace the methodology of buying and selling in a transactional world. Whether or not why we get to the point of having restricted and non-restricted inventory is another issue. We will need to find ways to work in both worlds and possess the tools to work on a level playing field and in agency defined business."
"We've got good people doing good things," CHRISTIAN concluded. "We need to change a little bit, we understand that ... we don't live in a vacuum and we are making the moves to keep SAGA moving forward as a growing company and keeping our shareholders happy and keeping our employees motivated and believe by what we do which is compelling radio and television broadcasting."