On Tuesday, Saga Communications reported 3rd quarter revenue of $32.4 million. That's an increase of 1.2 percent and includes both radio and TV. On the radio side, revenue was basically flat. Saga CEO Ed Christian said, "Q3 was very trying. We were rolling along until we hit September." Net income for the quarter increased 17.2 percent to $4.3 million. Free cash flow increased 2.2 percent to $6.1 million. Operating expenses decreased 2.4 percent to $22.4 million.
Saga also reported lower than expected political advertising revenue. Saga will take in a total of about $5 million in political this year, compared to $6.5 million in 2008. Christian said national advertising for Q3 was down 19 percent. "It's not as sizeable for us as it is in major markets, but it's still a lot of money."
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