Activist Letter

Gate City Capital Criticizes Saga Communications (SGA) Over Digital Strategy Missteps and Withdraws Board Nominees

Gate City Capital Management withdrew its board nominees for Saga Communications' 2025 annual meeting, stating that continuing the proxy contest was not in shareholders’ best interest. The firm had initially nominated directors due to concerns over Saga’s digital transformation strategy, which it believed could harm shareholder value. Gate City appreciated the dialogue with management but remains critical of the company's strategic direction. Read the full letter