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EXHIBIT 10(e)

                             CHIEF EXECUTIVE OFFICER
                              ANNUAL INCENTIVE PLAN

                                       OF

                            SAGA COMMUNICATIONS, INC.


                                    ARTICLE I
                                     PURPOSE

1.1      ESTABLISHMENT AND PURPOSE. SAGA Communications, Inc. (the "Company")
         hereby establishes the Chief Executive Officer Annual Incentive Plan of
         SAGA Communications (the "Plan"), effective as of January 1, 2000. The
         purpose of the Plan is to further the interests of the Company's
         shareholders by establishing and providing performance-based incentives
         to the Chief Executive Officer of the Company.

1.2      APPLICABILITY OF PLAN. The provisions of this Plan are applicable only
         to the Chief Executive Officer of the Company.


                                   ARTICLE II
                                   DEFINITIONS

2.1      DEFINITIONS. Wherever used in the Plan, the following words and phrases
         shall have the meaning set forth below, unless the context plainly
         requires a different meaning:

         a)       "Administrator" means the Compensation Committee.

         b)       "Beneficiary" means the person or persons designated by the
                  Chief Executive Officer in accordance with Section 6.7.

         c)       "Board" means the Board of Directors of the Company.

         d)       "Cause" means "for cause" as defined in paragraph 11 of the
                  employment agreement entered into by the Chief Executive
                  Officer and the Company; provided, however, that "Cause" shall
                  not exist unless the notice and potential redress process
                  described in such employment agreement have been completed.

         e)       "Code" means the Internal Revenue Code of 1986, as amended
                  from time to time.

         f)       "Committee" means the Compensation Committee, and with respect
                  to the administration of the Plan, whose members shall satisfy
                  the definition of "outside directors" as identified in Code
                  Section 162(m)(4)(C) and as defined in Treasury Regulation
                  Section 162-27(e)(3).

         g)       "Company" means SAGA Communications, Inc.

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         h)       "Disability" means "disability" as that term is described in
                  paragraph 10 of the employment agreement entered into by the
                  Chief Executive Officer and the Company.

         i)       "Effective Date" means January 1, 2000.

         j)       "Fiscal Year" means the 12-month period beginning January 1
                  and ending on the following December 31st.

         k)       "Incentive Award" means the amount payable pursuant to the
                  Plan with respect to a Fiscal Year, based on the level of
                  achievement of the Performance Goals established for the
                  Performance Measures selected by the Committee for such Fiscal
                  Year.

         l)       "Performance Goal" means, with respect to a specific
                  Performance Measure, the level at which credit will be given
                  to the Chief Executive Officer for purposes of determining a
                  payment from the Plan for a Fiscal Year.

         m)       "Performance Measure" means each measure identified in Section
                  4.1.

         n)       "Plan" means the Chief Executive Officer Annual Incentive Plan
                  of Saga Communications, Inc., and any amendment thereto.

         o)       "Retirement" means "retirement" as such or similar term is
                  defined in the qualified defined contribution plan sponsored
                  by the Company.


                                   ARTICLE III
                                 ADMINISTRATION

3.1      GENERAL. The Administrator shall be the Committee, or such other person
         or persons designated by the Board. Except as otherwise specifically
         provided in the Plan, the Administrator shall be responsible for the
         administration of the Plan.

3.2      ADMINISTRATIVE RULES. The Administrator may adopt such rules of
         procedure as it deems desirable for the conduct of its affairs, except
         to the extent that such rules conflict with the provisions of the Plan.

3.3      DUTIES. The Administrator shall have the following rights, powers and
         duties:

         (a)      The decision of the Administrator in matters within its
                  jurisdiction shall be final, binding and conclusive upon the
                  Chief Executive Officer and upon any other person affected by
                  such decision, subject to the claims procedure hereinafter set
                  forth.

         (b)      The Administrator shall have the duty and authority to
                  interpret and construe the provisions of the Plan, to decide
                  any question which may arise regarding the rights of the Chief
                  Executive Officer and his beneficiary(ies), and the amounts of
                  their respective interests, to adopt such rules and to
                  exercise such powers as the Administrator may deem necessary
                  for the administration of the Plan, and to exercise any other
                  rights, powers or privileges granted to the Administrator by
                  the terms of the Plan.

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         (c)      The Administrator shall have the authority to appoint
                  individuals, including employees of the Company, to provide
                  appropriate support and day-to-day administration and advice
                  to the Administrator in the fulfillment of the duties of the
                  Administrator.

         (d)      The Administrator shall maintain full and complete records of
                  its decisions. Its records shall contain all relevant data
                  pertaining to the Chief Executive Officer and his rights and
                  duties under the Plan. The Administrator shall have the duty
                  to maintain Account records of the participant in the Plan.

         (e)      The Administrator shall periodically report to the Board with
                  respect to the status of the Plan.

3.4      FEES. No fee or compensation shall be paid to any person for services
         as the Administrator. No individual who is an employee of the Company
         and is appointed by the Administrator pursuant to Section 3.3(c) shall
         receive additional compensation in fulfilling the duties assigned to
         that individual. Any non-employee of the Company who provides services
         to the Administrator pursuant to Section 3.3(c) shall receive fees for
         such services as negotiated by and between the Company and such
         non-employee.

                                   ARTICLE IV
                         PERFORMANCE MEASURES AND GOALS

4.1      PERFORMANCE MEASURES. The Committee shall select, for each Fiscal Year
         for which the Committee determines that the Chief Executive Officer
         shall have the opportunity to achieve an Incentive Award, the
         Performance Measure or Measures by which such Incentive Award shall be
         determined. The Performance Measures from which the Committee may
         select are as follows:

<TABLE>
<CAPTION>
<S>                                                       <C>
              Earnings Per Share                          Net Revenue Growth
              Broadcast Cash Flow                           Free Cash Flow
              After-tax Cash Flow                         Annual Net Revenue
</TABLE>

4.2      PERFORMANCE GOALS. The Committee shall assign, for each Fiscal Year for
         which the Committee determines that the Chief Executive Officer shall
         have the opportunity to achieve an Incentive Award, the specific goal
         that must be achieved for each Performance Measure.

4.3      COMBINATION OF PERFORMANCE MEASURES AND PERFORMANCE GOALS. The
         Committee shall determine in writing the combination of Performance
         Measures, their respective Performance Goals, and the weighting to be
         assigned to each Performance Measure, in determining the level of
         performance that must be achieved for the Chief Executive Officer to
         receive an Incentive Award for a specific Fiscal Year. The Committee
         shall make reasonable efforts to satisfy the requirements of this
         Section 4.3 within ninety (90) days after the beginning of the Fiscal
         Year to which the Performance Measures and Goals relate; provided,
         however, that if the Committee satisfies the requirement of this
         Section 4.3 after such ninety (90) day period, the provisions of this
         Plan shall continue to apply with respect to the determination of the
         Incentive Award for such Fiscal Year.

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4.4      ESTABLISHMENT OF A CORPORATE PERFORMANCE TRIGGER. The Committee in
         satisfying the provisions of this Article IV with respect to any Fiscal
         Year shall establish a Performance Measure and related Goal (or
         combination of Measures and related Goals) that must be satisfied prior
         to determining whether any Incentive Award is to be payable for such
         Fiscal Year, which shall be set forth in writing in the manner
         described in Section 4.3.


                                    ARTICLE V
                                INCENTIVE AWARDS

5.1      ESTABLISHING POTENTIAL INCENTIVE AWARD OPPORTUNITIES. The Committee
         shall establish, at the same time as the Performance Measures and Goals
         are established as described in Article IV with respect to a specific
         Fiscal Year, the following items:

         a)       The amount of Incentive Award which will be paid if the
                  applicable Performance Goal (or combination of Goals) is
                  achieved;

         b)       The minimum level of Performance Goal (or combination of
                  Performance Goals) achievement which must occur for any
                  Incentive Award to be paid, and the amount that would be paid
                  for such level of achievement; and

         c)       The maximum amount of any Incentive Award which will be paid
                  with respect to achieving a Performance Goal (or combination
                  of Performance Goals), and the amount that would be paid such
                  level of achievement;

         provided, however, that the maximum Incentive Award for any Fiscal Year
         cannot exceed five hundred percent (500%) of annual base salary payable
         for such year.

         These items shall be set forth in writing consistent with the
         provisions of Section 4.3.

5.2      DETERMINING ACTUAL INCENTIVE AWARD. The Committee shall determine
         whether any Incentive Award is payable for a Fiscal Year, based on a
         determination of the actual results relating to the Performance Goals
         and Measures selected for that Fiscal Year. The Committee may rely on
         any such information, including but not limited to the financial
         statements developed with respect to such Fiscal Year, in making such
         determination. For purposes of making the determination under this
         Section 5.2, the Committee shall use its best judgment in applying any
         actual corporate result that is not equal to the specific Goal (or
         combination of Goals) established for a Performance Measure, but which
         otherwise would result in an Incentive Award being payable.

         The Committee shall have the authority, once such determination is
         made, to decrease any Incentive Award otherwise payable for a Fiscal
         Year, but in no event shall the Committee have the authority to
         increase any such Incentive Award. In making this determination, the
         Committee may take into account events, including but not limited to
         changes in corporate structure or accounting procedures, that occur
         during a Fiscal Year which, in the judgment of the Committee, makes
         comparison of actual corporate performance with a Performance Goal (or
         Goals) impossible or inconsistent with the objectives of the Company
         and the Plan.

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         The Committee shall set forth in writing the determination required
         under this Section 5.2.

5.3      AUTHORIZING PAYMENT OF INCENTIVE AWARD. The Committee shall authorize
         payment of any Incentive Award for a Fiscal Year after or commensurate
         with the determination under Section 5.2. Notwithstanding the
         foregoing, if the Chief Executive Officer separates from employment
         with the Company on account of death or Disability, or as a result of
         Retirement, during a Fiscal Year for which the Committee had previously
         determined that an Incentive Award could be earned by the Chief
         Executive Officer, the Committee shall authorize payment of any
         Incentive Award that is determined to be payable, reduced by a
         fraction, the numerator of which is the number of whole months
         (rounding to the nearest whole month based on the number of days
         actually employed in the month the separation occurs) in which the
         separation from employment occurs, and the denominator of which is
         twelve (12).

5.4      FORM OF PAYMENT OF INCENTIVE AWARD. Unless otherwise determined by the
         Committee, the Chief Executive Officer shall receive the Incentive
         Award for a Fiscal Year in one or more lump sum cash payments within a
         reasonable period of time after the determination described in Sections
         5.2 and 5.3 with respect to such Incentive Award.


                                   ARTICLE VI
                            MISCELLANEOUS PROVISIONS

6.1      TERM OF PLAN. The Plan shall be effective as of the Effective Date, and
         shall continue in effect until terminated pursuant to Section 6.3.

6.2      AMENDMENT. The Company reserves the right to amend the Plan in any
         manner that it deems advisable by a resolution of the Committee;
         provided, however, that (a) any such amendment, to the extent
         determined necessary by the Committee, shall be subject to approval by
         Company shareholders consistent with the requirements of Code Section
         162(m) and the regulations thereunder, and (b) no amendment may
         adversely affect outstanding awards without the consent of the Chief
         Executive Officer.

6.3      TERMINATION. The Company reserves the right to terminate the Plan at
         any time; provided, however, that no termination may adversely affect
         outstanding awards without the consent of the Chief Executive Officer.

6.4      NO ASSIGNMENT. The Chief Executive Officer shall not have the power to
         pledge, transfer, assign, anticipate, mortgage or otherwise encumber or
         dispose of in advance any interest in amounts payable hereunder or any
         of the payments provided for herein, nor shall any interest in amounts
         payable hereunder or in any payments be subject to seizure for payments
         of any debts, judgments, alimony or separate maintenance, or be reached
         or transferred by operation of law in the event of bankruptcy,
         insolvency or otherwise.

6.5      NO IMPLIED RIGHTS. Neither the Chief Executive Officer nor any other
         individual shall have any rights and privileges with respect to any
         amounts that may become payable pursuant to the Plan.

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6.6      CONTINUED EMPLOYMENT NOT PRESUMED. Nothing in the Plan or any document
         describing it shall give any individual the right to continue in
         employment with the Company or affect the right of the Company to
         terminate the employment of any such individual.

6.7      DESIGNATION OF BENEFICIARY. The Chief Executive Officer, by filing the
         prescribed form with the Committee, may designate one or more
         beneficiaries and successor beneficiaries who shall receive any
         Incentive Award determined payable, but not paid, in accordance with
         the terms of the Plan in the event of the Chief Executive Officer's
         death. In the event the Chief Executive Officer does not file a form
         designating one or more beneficiaries, or no designated beneficiary
         survives the Chief Executive Officer, the amounts shall be paid to or
         for the benefit of the Chief Executive Officer's estate.

6.8      INCAPACITY. If any person to whom a benefit is payable under the Plan
         is an infant or if the Committee determines that any person to whom
         such benefit is payable is incompetent by reason of physical or mental
         disability, the Committee may cause the payments becoming due to such
         person to be made to another for his benefit. Payments made pursuant to
         this Section shall, as to such payment, operate as a complete discharge
         of the Plan, the Company, the Board and the Committee.

6.9      SUCCESSORS AND ASSIGNS. The provisions of the Plan are binding upon and
         inure to the benefit of the Company, its respective successors and
         assigns, and the Chief Executive Officer, his beneficiaries, heirs,
         legal representatives and assigns.

6.10     GOVERNING LAW. The Plan shall be subject to and construed in accordance
         with the laws of the State of Michigan, unless otherwise pre-empted by
         federal law.

6.11     SEVERABILITY. If any provision of the Plan shall be held illegal or
         invalid for any reason, such illegality or invalidity shall not affect
         the remaining provisions of the Plan, but the Plan shall be construed
         and enforced as if such illegal or invalid provision had never been
         included herein.

6.12     NOTIFICATION OF ADDRESSES. The Chief Executive Officer and each
         beneficiary shall file with the Committee, from time to time, in
         writing, the post office address of the Chief Executive Officer, the
         post office address of each beneficiary, and each change of post office
         address. Any communication, statement or notice addressed to the last
         post office address filed with the Committee (or if no such address was
         filed with the Committee, then to the last post office address of the
         Chief Executive Officer or beneficiary as shown on the Company's
         records) shall be binding on the Chief Executive Officer and each
         beneficiary for all purposes of the Plan and neither the Committee nor
         the Company shall be obligated to search for or ascertain the
         whereabouts of any Chief Executive Officer or beneficiary.

6.13     BONDING. The Committee and all agents and advisors employed by it shall
         not be required to be bonded.


IN WITNESS WHEREOF, the Committee has caused this Plan to be adopted effective
as of January 1, 2000.

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