<SEC-DOCUMENT>0001104659-20-085603.txt : 20210113
<SEC-HEADER>0001104659-20-085603.hdr.sgml : 20210113
<ACCEPTANCE-DATETIME>20200722160111
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-20-085603
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20200722

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SAGA COMMUNICATIONS INC
		CENTRAL INDEX KEY:			0000886136
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO BROADCASTING STATIONS [4832]
		IRS NUMBER:				383042953
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		73 KERCHEVAL AVE
		CITY:			GROSSE POINTE FARMS
		STATE:			MI
		ZIP:			48236
		BUSINESS PHONE:		3138867070

	MAIL ADDRESS:	
		STREET 1:		73 KERCHEVAL AVE
		CITY:			GROSSE POINTE FARMS
		STATE:			MI
		ZIP:			48236
</SEC-HEADER>
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<TYPE>CORRESP
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">CORRESPONDENCE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">July 22, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 69%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Joseph Cascarano</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Robert S. Littlepage</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance<BR>
        U.S. Securities &amp; Exchange Commission<BR>
        100 F Street, NE<BR>
        Washington, D.C. 20549<BR>
        </P></TD>
    <TD STYLE="width: 31%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Re:</TD><TD><B>Saga Communications, Inc.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><B>Form 10-K for Fiscal Year ended
December 31, 2019</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><B>Filed March 13, 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>File No. 001-11588</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mr. Cascarano and Mr. Littlepage:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On behalf of Saga Communications, Inc.
(&ldquo;Saga&rdquo;), this letter responds to your letter dated July 8, 2020. Saga understands that the purpose of the SEC&rsquo;s
review process is to assist Saga in its compliance with the applicable disclosure requirements and to enhance the overall disclosure
in Saga&rsquo;s filings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For your convenience, Saga&rsquo;s response
tracks the item identified in your letter and is set forth in italics.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Form 10-K for Fiscal Year Ended December
31, 2019</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Note 1. Summary of Significant Accounting
Policies</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Nature of Business, page 54</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">We note in your disclosure that after the sale of your television stations, you now have one reportable
segment. We further note on page 33 that your top five radio markets provide 43% of total revenues and 45% of total operating income.
Please identify your operating segments and tell us how they were determined. Refer to the guidance in ASC 280-10-50-1 through
9. Please also provide the disclosures required by ASC 280-10-50-21. This should include a discussion of your internal structure,
how you are organized and whether operating segments have been aggregated.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Joseph Cascarano</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Robert S. Littlepage</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">July 22, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>We use the management approach method to determine
what information to report under ASC 280 as stated in ASC 280-10-05-3. We serve twenty-seven radio markets (reporting units) that
aggregate into one operating segment (Radio), which also qualifies as one reportable segment. We operate under one reportable business
segment for which segment disclosure is consistent with the management decision-making process that determines the allocation of
resources and the measuring of performance. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>Operating segments are organized internally by
type of products and services provided. In determining our operating segment in accordance with ASC 280-10-50-1 and our reportable
segment in accordance with ASC 280-10-50-10, factors we considered included, but were not limited to: (1) the favorable
impact of the significant synergies generated through our centralized operating systems, procedures and operating activities; (2)
the similar economic characteristics of our markets such as the nature of our products (radio advertising and our programming formats)
and production process (production of commercials for advertising, provision of standard music libraries for standard formats,
utilized across the radio markets) and (3) the operating results regularly reviewed by the Chief Operating Decision Maker (&ldquo;CODM&rdquo;).
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>The CODM regularly reviews and evaluates the results
of the radio operating segment and makes operating and capital investment decisions based at the Company level. Furthermore, technological
enhancements and system integration decisions are reached at the Company level and applied to all markets rather than to specific
or individual markets to ensure that each market has the same tools and opportunities as every other market. Managers at the market
level do not report to the CODM and instead report to other senior management, who are responsible for the operational oversight
of radio markets and for communication of results to the CODM. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>Below is the disclosure required by ASC 280-10-50-21.
Saga intends, in future filings, to provide this disclosure surrounding our operating segment, which includes a discussion of our
internal structure, how we are organized, and how our radio markets are aggregated into one operating segment and one reportable
segment. We will make the required disclosure in our Summary of Significant Accounting Policies Footnote (Footnote 1) under a Segments
subtitle beginning with our Form 10-Q to be filed for the period ending June 30, 2020: </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B><I>1.</I></B></TD><TD><B><I>Summary of Significant Accounting Policies</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><B><I>Segments</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><I></I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Joseph Cascarano</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Robert S. Littlepage</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">July 22, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 3</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><I>We serve twenty-seven radio markets (reporting units)
that aggregate into one operating segment (Radio), which also qualifies as a reportable segment. We operate under one reportable
business segment for which segment disclosure is consistent with the management decision-making process that determines the allocation
of resources and the measuring of performance. The Chief Operating Decision Maker (&ldquo;CODM&rdquo;) evaluates the results of
the radio operating segment and makes operating and capital investment decisions based at the Company level. Furthermore, technological
enhancements and system integration decisions are reached at the Company level and applied to all markets rather than to specific
or individual markets to ensure that each market has the same tools and opportunities as every other market. Managers at the market
level do not report to the CODM and instead report to other senior management, who are responsible for the operational oversight
of radio markets and for communication of results to the CODM. We continually review our operating segment classification to align
with operational changes in our business and may make changes as necessary. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As stated in your letter, Saga acknowledges
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">after reviewing our response to your comments,
you may have additional comments; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Saga and its management are responsible
for the accuracy and adequacy of our disclosures, notwithstanding any review, comments, action or absence of action by the staff.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you have any questions concerning the
foregoing, please do not hesitate to contact the undersigned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sincerely,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>/s/ Samuel D. Bush&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Samuel D. Bush</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Senior Vice President, Treasurer and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left">cc:</TD><TD STYLE="text-align: justify">Edward K. Christian, President and Chief Executive Officer</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left"></TD><TD STYLE="text-align: justify">Timothy J. Clarke, Finance and Audit Committee Chairman</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
