<SUBMISSION>
<ACCESSION-NUMBER>0000950135-01-501744
<TYPE>11-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20001231
<FILING-DATE>20010625
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>SAGA COMMUNICATIONS INC
<CIK>0000886136
<ASSIGNED-SIC>4832
<IRS-NUMBER>383042953
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>11-K
<ACT>34
<FILE-NUMBER>001-11588
<FILM-NUMBER>1666394
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>73 KERCHEVAL AVE
<CITY>GROSSE POINTE FARMS
<STATE>MI
<ZIP>48236
<PHONE>3138867070
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>73 KERCHEVAL AVE
<STREET2>73 KERCHEVAL AVE
<CITY>GROSSE POINTE FARMS
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</MAIL-ADDRESS>
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<TYPE>11-K
<SEQUENCE>1
<FILENAME>b39796sae11-k.txt
<DESCRIPTION>SAGA COMMUNICATIONS,INC
<TEXT>

<PAGE>   1
                                  United States
                       Securities and Exchange Commission
                             Washington, D.C. 20549

--------------------------------------------------------------------------------

                                    FORM 11-K

(MARK ONE)

[x]  Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of
     1934 For the Fiscal Year ended December 31, 2000

                                       or

[ ]  Transition Report Pursuant to Section 15(d) of the Securities Exchange
     Act of 1934 For the transition period from _________ to _________

Commission file number 333-63321


     Saga Communications, Inc. Employees' 401(K) Savings and Investment Plan
--------------------------------------------------------------------------------
                              (Full title of plan)


                            Saga Communications, Inc.
                               73 Kercheval Avenue
                       Grosse Pointe Farms, Michigan 48236
--------------------------------------------------------------------------------
(Name of Issuer of Securities Held Pursuant to Plan and Address of its Principal
                               Executive Office)

<PAGE>   2

                            Saga Communications, Inc.
                  Employees' 401(k) Savings and Investment Plan

                                Table of Contents

                 Financial Statements and Supplemental Schedule

                           December 31, 2000 and 1999

                                                                            Page

Report of Independent Auditors                                                3

Financial Statements:
Statements of Assets Available for Benefits - December 31, 2000 and
  1999                                                                        4
Statements of Changes in Assets Available for Benefits - Years ended
  December 31, 2000 and 1999                                                  5
Notes to Financial Statements                                                 6

Supplemental Schedule:
Schedule H line 4(i) - Schedule of Assets Held for Investment Purposes
  At End of Year                                                             11

Other Information:
Signatures                                                                   13
Exhibit 23.1 - Consent of Independent Auditors                               14


                                                                               2
<PAGE>   3

                         Report of Independent Auditors

Plan Administrator
Saga Communications, Inc.
Employees' 401(k) Savings and Investment Plan

We have audited the accompanying statements of assets available for benefits of
Saga Communications, Inc. Employees' 401(k) Savings and Investment Plan as of
December 31, 2000 and 1999 and the related statements of changes in assets
available for benefits for the years then ended. These financial statements are
the responsibility of the Plan's management. Our responsibility is to express an
opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the United States. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the assets available for benefits of the Plan at December
31, 2000 and 1999 and the changes in its assets available for benefits for the
years then ended, in conformity with accounting principles generally accepted in
the United States.

Our audits were made for the purpose of forming an opinion on the financial
statements taken as a whole. The accompanying supplemental schedule of assets
held for investment purposes at end of year as of December 31, 2000 is presented
for purposes of additional analysis and is not a required part of the financial
statements but is supplementary information required by the Department of
Labor's Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. This supplemental schedule is the
responsibility of the Plan's management. The supplemental schedule has been
subjected to the auditing procedures applied in our audits of the financial
statements and, in our opinion, is fairly stated in all material respects in
relation to the financial statements taken as a whole.

                                             /s/ Ernst & Young LLP
                                             ------------------------------

June 14, 2001


                                                                               3
<PAGE>   4

                            Saga Communications, Inc.
                  Employees' 401(k) Savings and Investment Plan

                   Statements of Assets Available For Benefits

                                              DECEMBER 31
                                          2000            1999
                                       ----------      ----------

ASSETS

Investments, at fair value:
    Mutual funds                       $6,335,192      $6,604,447
    Guaranteed Investment Fund          1,090,170       1,025,494
    Saga Common Stock Fund              1,076,075       1,151,572
    Participant loans                     165,400         167,941
                                       ----------      ----------
                                        8,666,837       8,949,454

Employer contributions receivable         179,580         169,385
                                       ----------      ----------
Assets available for benefits          $8,846,417      $9,118,839
                                       ==========      ==========


See accompanying notes.


                                                                               4
<PAGE>   5

                            Saga Communications, Inc.
                  Employees' 401(k) Savings and Investment Plan

             Statements of Changes in Assets Available For Benefits

                                                           YEAR ENDED
                                                           DECEMBER 31
                                                      2000            1999
                                                   -----------     -----------
Additions:
    Participant contributions                      $ 1,285,139     $ 1,208,580
    Employer contributions                             179,580         169,385
    Investment income:
      Interest                                          83,642          73,049
      Net appreciation/(depreciation) in fair
         value of investments:
           Mutual funds                               (706,211)      1,244,288
           Saga common stock fund                     (339,029)        237,335
                                                   -----------     -----------
Total additions                                        503,121       2,932,637

Deductions:
    Benefit payments                                  (775,543)       (602,603)
                                                   -----------     -----------
Net increase/(decrease)                               (272,422)      2,330,034
Assets available for benefits:
    Beginning of year                                9,118,839       6,788,805
                                                   -----------     -----------
    End of year                                    $ 8,846,417     $ 9,118,839
                                                   ===========     ===========

See accompanying notes.


                                                                               5
<PAGE>   6

                            Saga Communications, Inc.
                  Employees' 401(k) Savings and Investment Plan
                          Notes to Financial Statements
                     Years ended December 31, 2000 and 1999

1. DESCRIPTION OF PLAN

The following description of Saga Communications, Inc. (the "Company")
Employees' 401(k) Savings and Investment Plan (the "Plan") provides only general
information. Participants should refer to the summary plan description for more
complete information.

GENERAL

The Plan is a defined contribution plan which includes, as participants, all
employees who have completed one year of employment and reached the age of
twenty-one. The Plan is administered by the Company and is subject to the
provisions of the Employee Retirement Income Security Act of 1974 ("ERISA").

CONTRIBUTIONS

Contributions to employees' accounts are effected through voluntary reductions
in their compensation. Annual contributions for each participant are subject to
the participation and discrimination standards of Internal Revenue Code Section
401(k)(3). The Company may make a discretionary match; for 2000 and 1999 the
discretionary employer match was $179,580 and $169,385, respectively.

Upon enrollment, a participant may direct their contributions to any of the
Plan's fund options. Employer contributions are invested in Saga Communications,
Inc. common stock.

PARTICIPANT ACCOUNTS

Each participant's account is credited with the participant's contributions and
allocations of the Company's contributions and Plan earnings. Allocations are
based on participant earnings or account balances, as defined. The benefit to
which a participant is entitled is the benefit that can be provided from the
participant's account.

VESTING

Participants are immediately vested in their contributions and the employer
discretionary match plus actual earnings thereon.


                                                                               6
<PAGE>   7

                            Saga Communications, Inc.
                  Employees' 401(k) Savings and Investment Plan
                    Notes to Financial Statements (continued)

1. DESCRIPTION OF PLAN (CONTINUED)

PARTICIPANT LOANS

Participants may borrow from their fund accounts a minimum of $1,000 up to a
maximum equal to the lessor of $50,000 or 50% of their vested account balance.
Loan terms range from 1-5 years or up to 15 years for purchase of primary
residence. The loans are secured by the balance in the participant's account and
bear interest at a rate as determined by the Plan Administrator which
approximates the prime interest rate in effect on the first business day of the
calendar quarter plus 1%. Principal and interest is paid ratably through monthly
payroll deductions.

DISTRIBUTIONS

Participants or their beneficiaries may receive distributions of their account
balances upon the earlier of reaching age 59-1/2, disability, death or
termination of service, as defined in the Plan. Further, the Plan Administrator
may permit a participant who experiences a qualified financial hardship, as
defined, to receive a distribution or a portion of the participant's account
balance. Such distributions are generally made in a lump sum.

PLAN TERMINATION

Although it has not expressed any intent to do so, the Company has the right
under the Plan to discontinue its contributions at any time and to terminate the
Plan subject to the provision of ERISA.

ADMINISTRATIVE EXPENSES

Administrative expenses of the Plan are paid by the Company.


                                                                               7
<PAGE>   8

                            Saga Communications, Inc.
                  Employees' 401(k) Savings and Investment Plan
                    Notes to Financial Statements (continued)

2. SIGNIFICANT ACCOUNTING POLICIES

BASIS OF ACCOUNTING

The financial statements have been prepared on the accrual basis of accounting.

INVESTMENT VALUATION AND INCOME RECOGNITION

Except for the investment contracts, the Plan's investments are stated at fair
value which equals the quoted market price on the last business day of the plan
year. The shares of mutual funds are valued at quoted market prices which
represent the net asset values of shares held by the Plan at year-end. The
participant loans are valued at their outstanding balances, which approximate
fair value.

Guaranteed investment contracts are recorded at their contract values, which
represent contributions and reinvested income, less any withdrawals plus accrued
interest, because these investments have fully benefit-responsive features. For
example, participants may ordinarily direct the withdrawal or transfer of all or
a portion of their investment at contract value. There are no reserves against
contract values for credit risk of contract issues or otherwise. The average
yield was approximately 6.0% and 5.5% in 2000 and 1999, respectively. The
crediting interest rate for these investment contracts is reset semiannually by
the issuer but cannot be less than zero and was 6.2% and 6.05% at December 31,
2000 and 1999, respectively.

Purchases and sales of securities are recorded on a trade-date basis. Interest
income is recorded on the accrual basis. Dividends are recorded on the
ex-dividend date.

USE OF ESTIMATES

The preparation of financial statements in conformity with accounting principles
generally accepted in the United States requires management to make estimates
and assumptions that affect the amounts reported in the financial statements and
accompanying notes. Actual results could differ from those estimates.


                                                                               8
<PAGE>   9

                            Saga Communications, Inc.
                  Employees' 401(k) Savings and Investment Plan
                    Notes to Financial Statements (continued)

3. INVESTMENTS

Investments that represent 5% or more of fair value of the Plan's net assets are
as follows:

                                                    DECEMBER 31
                                                2000            1999
                                             ----------      ----------

Guaranteed Investment Fund                   $1,090,170      $1,025,494
Saga Common Stock Fund**                      1,076,075       1,151,572
Vanguard Wellington Fund                        541,958         483,718
American Century Ultra Investors Fund         1,267,197       1,545,638
Fidelity Investments Contrafund               1,722,759       1,933,248
CIGNA Stock Index Fund*                         793,643         857,440
INVESCO Total Return Fund                       425,463         486,489
Fidelity Growth & Income Portfolio Fund         450,886         398,708

*Fund is sponsored by Plan Trustee
** Non-participant directed

4. NONPARTICIPANT-DIRECTED INVESTMENTS

Information about the significant components of changes in net assets related to
the nonparticipant-directed investment is as follows:

<TABLE>
<CAPTION>
                                                                YEAR ENDED
                                                                DECEMBER 31
SAGA COMMON STOCK FUND:                                     2000           1999
                                                         -----------    -----------

<S>                                                      <C>            <C>
Contributions                                            $   320,380    $   297,455
Net appreciation/(depreciation) in fair value               (339,029)       237,335
Benefit payments                                             (79,748)       (81,353)
Transfers in (out)                                            22,900         (4,931)
                                                         -----------    -----------
Net increase/(decrease)                                      (75,497)       448,506
Net assets available for benefits at beginning of year     1,151,572        703,066
                                                         -----------    -----------
Net assets available for benefits at end of year         $ 1,076,075    $ 1,151,572
                                                         ===========    ===========
</TABLE>


                                                                               9
<PAGE>   10

                            Saga Communications, Inc.
                  Employees' 401(k) Savings and Investment Plan
                    Notes to Financial Statements (continued)

5. INCOME TAX STATUS

The Plan has received a determination letter from the Internal Revenue Service
dated April 4, 1994, stating that the Plan is qualified under Section 401(a) of
the Internal Revenue Code (the "Code") and, therefore, the related trust is
exempt from taxation. However, the Plan has been restated in its entirety
subsequent to the issuance of the determination. The Plan Administrator believes
the Plan is being operated in compliance with the applicable requirements of the
Code and, therefore, believes that the Plan is qualified and the related trust
is tax exempt.


                                                                              10
<PAGE>   11

                            Saga Communications, Inc.
                  Employees' 401(k) Savings and Investment Plan
                            Employer ID # 38-2683519
                                   Plan # 001
                               Schedule H, Line 4i
         Schedule of Assets Held for Investment Purposes At End of Year

                                December 31, 2000

<TABLE>
<CAPTION>
                IDENTITY                           DESCRIPTION OF INVESTMENT INCLUDING
           OF ISSUE, BORROWER,                     MATURITY DATE, RATE OF INTEREST,                       CURRENT
         LESSOR OR SIMILAR PARTY                   COLLATERAL, PAR OR MATURITY VALUE             COST      VALUE
-------------------------------------------------------------------------------------------------------------------

<S>                                                <C>                                           <C>     <C>
*  Connecticut General Life Insurance Company      Guaranteed Investment Fund                            $1,090,170
*  Connecticut General Life Insurance Company      CIGNA Stock Index Fund                                   793,643
*  Connecticut General Life Insurance Company      CIGNA High Yield Bond Fund                                24,728
   Fidelity Investments                            Fidelity Investments Contrafund                        1,722,759
   Fidelity Investments                            Fidelity Growth and Income Portfolio Fund                450,886
   Invesco Mutual Funds                            INVESCO Total Return Fund                                425,463
   American Century Mutual Funds                   American Century Ultra Investors Fund                  1,267,197
   The Vanguard Group of Investment Companies      Vanguard Wellington Fund                                 541,958
   Warburg-Pincus Mutual Funds                     Warburg-Pincus Emerging Growth Fund                      332,034
   Warburg-Pincus Mutual Funds                     Warburg-Pincus International Equity Fund                  69,706
   Putnam Mutual Funds                             Putnam Stock Growth Fund                                  67,475
   Janus Mutual Funds                              Janus Fund                                               328,382
   Janus Mutual Funds                              Janus Worldwide Fund                                     226,520
   Baron Mutual Funds                              Baron Asset Fund                                          84,441
** Saga Communications, Inc.                       Saga Common Stock Fund                                 1,076,075
*  Participant loans receivable                    Interest rates 8% to 10.5%                    $          165,400
                                                                                                         ----------
Total investments                                                                                        $8,666,837
                                                                                                         ==========
</TABLE>

*    Party-in-interest.

**   Party-in-interest, Nonparticipant directed fund


                                                                              11
<PAGE>   12

                                  EXHIBIT INDEX

Exhibits

23.1      Consent of Ernst & Young LLP


                                                                              12
<PAGE>   13


                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
administrator of the Plan has duly caused this annual report to be signed on its
behalf by the undersigned thereunto duly authorized.

                                               SAGA COMMUNICATIONS, INC.
                                               EMPLOYEES' 401(K) SAVINGS
                                               AND INVESTMENT PLAN


Date:  June 22, 2001                           /s/ Marcia K. Lobaito
                                               --------------------------------
                                               Marcia K. Lobaito
                                               Plan Administrator


                                                                              13
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>b39796saex23-1.txt
<DESCRIPTION>CONSENT OF ERNST & YOUNG LLP
<TEXT>

<PAGE>   1

Exhibit 23.1 - Consent of Independent Auditors

                         Consent of Independent Auditors

We consent to the incorporation by reference in the Registration Statement (Form
S-8 No. 333-63321) pertaining to the Saga Communications, Inc. Employees' 401(k)
Savings and Investment Plan, of our report dated June 14, 2001, with respect to
the financial statements and schedule of the Saga Communications, Inc.
Employees' 401(k) Savings and Investment Plan included in this Annual Report on
Form 11-K for the year ended December 31, 2000.

                                          /s/ Ernst & Young LLP
                                          -----------------------------------
                                          Ernst & Young LLP


Detroit, Michigan
June 20, 2001
</TEXT>
</DOCUMENT>
</SUBMISSION>
