Fisher Communications

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Fisher Communications Inc.
Type Public
Traded as NASDAQ: FSCI
Industry Broadcasting, Television, Radio
Founded 1910
Headquarters Seattle, Washington.
Area served Northwestern United States
Key people Colleen Brown
(President) & (CEO)
Michael D. Wortsman (Chair)
Robert I. (Rob) Dunlop (EVP (Ops)1
Revenue $164.0M (Increase 6.8%) 20111
Net income $36.4M (Increase 273.8%) 20111
Employees 784 (Increase5.3%) 20111
Website fsci.com
Before they were in broadcasting, the Fisher fortune rested on the Fisher Flour Mill on Seattle's Harbor Island, founded 1910.
Fisher Plaza, the company's headquarters.

Fisher Communications is a media company in the United States. Based in Seattle, Washington, the company owns a number of radio and television stations in the Western United States.

Contents

History

Also see KOMO (AM) Fisher Companies, Inc.'s Fisher Communications by 1998 owned 25 radio stations and 2 TV stations. Fisher Companies also owned a flour milling and food distribution company and real estate development subsidiary.2

In 1999 Retlaw Enterprises sold its remaining 11 television stations to Fisher Communications, including all of the related assets to those properties3 for $215 million in cash.2

Fisher began to sell many of its properties in the mid-2000s, including real estate, its longtime flour milling operation, and its stake in Safeco.4 By 2011, Fisher Communications was down to 10 radio stations.1 On April 11, 2013, Fisher (which by then owned 20 television stations and only three radio stations) announced that it would be acquired by the Sinclair Broadcast Group.4 However, the deal has been subject to financial scrutiny; the law firm Levi & Korsinsky notified Fisher shareholders with accusations that Fisher's board of directors were breaching fiduciary duties by "failing to adequately shop the Company before agreeing to enter into the transaction", and Sinclair was underpaying for Fisher's stock.5 Shortly after the announcement, a lawsuit was filed by a Fisher shareholder.6

Broadcast stations

Radio stations

Current
ARM Rank		 Market Station Format
14. Seattle - Tacoma KVI 570 Hot Talk
KOMO 1000 ** News
KPLZ-FM 101.5 Adult Top 40

Television stations

(From 2001-2008, Washington, Oregon, and Idaho ABC and CBS stations used a logo having a blue rectangle with the TV number in the rectangle and lowercase call signs on the top.)

Stations are arranged alphabetically by state and by city of license.

Market Station ... Channel (DT) Network Affiliation Founded Acquired
Bakersfield7 KBAK-TV 29 (33) CBS 1953 2008
KBFX-CD 58 (29) Fox
This TV (DT2)		 1990 2008
Boise KBOI-TV 2 (28) ++ CBS 1953 1999
KYUU-LP 35 The CW 2004 2006
Idaho Falls - Pocatello KIDK 3 (36) ++1 CBS 1953 1999
KXPI-LD 341 Fox (primary)
MyNetworkTV (secondary)		 2001 2006
Lewiston - Spokane - Coeur d'Alene -
Clarkston - Pullman - Moscow		 KLEW-TV 3 (32) ++ CBS 1955 1999
Bend KABH-CA 15 Univision 1993 N/A
(Operated by Fisher under an LMA)
Eugene - Coos Bay - Roseburg KVAL-TV 13 (25) ++ /
KCBY-TV 11 (21) ++ /
KPIC 4 (19) ++		 CBS
This TV (DT2)		 1954 /
1956 /
1960		 1999
Portland - Vancouver - Salem KATU 2 (43) ** ABC
This TV (DT2)		 1962 1962
KUNP 16 Univision 1999 2006
Seattle - Tacoma - Olympia - Bellingham KOMO-TV 4 (38) ** ABC
This TV (DT2)		 1953 1953
KUNS-TV 51 (50) Univision 1988 2006
Yakima - Walla Walla - Pasco -
Richland - Kennewick		 KUNW-CA 2 /
KVVK-CA 15 /
KORX-CA 16		 Univision 1996 /
1996 /
2001		 2007
KIMA-TV 29 (33) ++ /
KEPR-TV 19 (18) ++		 CBS
The CW (DT2)		 1953 /
1954		 1999

Former Fisher stations

Market Station Years Owned Currently
Fresno - Visalia KJEO 47 ++ 1999–2000 CBS network affiliate KGPE, owned by Nexstar Broadcasting Group.
Augusta WFXG 54 ++ 1999–2003 Fox network affiliate, owned by Raycom Media
Columbus - Opelika - Auburn WXTX 54 ++ 1999–2003 Fox network affiliate, owned by American Spirit Media and
operated by Raycom Media
Yakima - Walla Walla - Pasco -
Richland - Kennewick		 KWWA-CA 49 2007–2008 Ceased operations April 17, 2008 due to antenna failure.

Notes:

1) ** indicates a station built and signed-on by Fisher;
2) ++ indicates a station acquired as part of the merger with Retlaw Broadcasting.

Contract Dispute

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On December 17, 2008 Fisher Communications' contract expired with DISH Network. As a result of this contract dispute stations owned by Fisher Communications are no longer available to DISH Network subscribers. DISH Network claims that Fisher is asking for over an 80% increase.8 The Fisher stations that returned to DISH Network are: KOMO and KUNS in Seattle, Wash.; KATU and KUNP in Portland, Ore.; KIMA in Yakima, Wash.; KVAL in Eugene, Ore.; KBCI (now KBOI) in Boise, Idaho; KIDK in Idaho Falls, Idaho; and KBAK and KBFX in Bakersfield, Calif. DISH Network restored the service to their customers at 10:25 p.m. PST on June 10.

References

  1. ^ a b c d e "Fisher Communications." Company Profile. Hoover's, Inc., 2012. Answers.com 20 Jul. 2012.
  2. ^ a b Vrana, Debrora (November 19, 1998). "Fisher Cos. Is Expected to Buy Retlaw's 11 TV Stations". Los Angeles Times. Retrieved 20 July 2012. 
  3. ^ "8-K For 7/1/99". Fisher Communications Inc. filings. secinfo.com. Retrieved October 20, 2007. 
  4. ^ a b Allison, Melissa (April 11, 2013). "KOMO owner Fisher Communications agrees to sale". The Seattle Times. Retrieved April 12, 2013. 
  5. ^ "SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of Fisher Communications, Inc. in Connection With the Sale of the Company to Sinclair Broadcast Group, Inc.". Press release. Retrieved 24 April 2013. 
  6. ^ "Fisher Communications, Inc. (FSCI) Investor Lawsuit to Stop Takeover by Sinclair Broadcast Group Announced by Shareholders Foundation". Press release. Retrieved 24 April 2013. 
  7. ^ Fisher Communications Agrees to Purchase Two Bakersfield Television Stations
  8. ^ http://www.dishnetwork.com/campaigns/fair_satellite/default.aspx?zipEntry=97034&Submit=Submit+%C2%BB

External links