Fisher Communications

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Fisher Communications, Inc.
Former type Public
Traded as NASDAQ: FSCI
Industry Broadcasting, Television, Radio
Fate Acquired by Sinclair
Successor(s) Sinclair Broadcast Group
Founded 1910
Defunct August 8, 2013
Headquarters Seattle, Washington, United States
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%) 2011[1]
Net income $36.4M (Increase 273.8%) 2011[1]
Employees 784 (Increase5.3%) 2011[1]
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 was a media company in the United States. Based in Seattle, Washington, the company primarily owned a number of radio and television stations in the Western United States. It was the last company in the Seattle area to own a local TV station before being acquired by Sinclair Broadcast Group. Fisher was acquired the same year KOMO-TV's competitor KING-TV's owner, Belo, was acquired by Gannett Company.

History[edit]

See also 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 properties[3] 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 was 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] the suit was settled in July 2013,[7] on August 6 Fisher's shareholders approved the merger.[8] The FCC granted its approval of the sale of August 7.[9] On August 8, Sinclair announced that the sale was completed.[10]

Former Fisher stations[edit]

Radio stations[edit]

Current
ARM Rank
Market Station Format
14. Seattle - Tacoma KVI 570 Hot Talk
KOMO 1000 ** News
KPLZ-FM 101.5 Adult Top 40
296. Great Falls KXGF 1400 Oldies
KQDI 1450 News / Talk / Sports
KAAK 98.9 Hot AC
KIKF 104.9 Country
KQDI-FM 106.1 Classic Rock
KIMO 107.3 Active Rock

Television stations[edit]

(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.

Notes:

  • (**) - Indicates a station built and signed-on by Fisher.
  • (++) - Indicates a station owned by Retlaw Enterprises, prior to its acquisition by Fisher in 1999.
City of license / Market Station Channel
TV (RF)
Years Owned Current Ownership Status
Bakersfield[11] KBAK-TV 29 (33) 2008-2013 CBS affiliate owned by Sinclair Broadcast Group
KBFX-CD 58 (29) 2008-2013 Fox affiliate owned by Sinclair Broadcast Group
Fresno - Visalia KJEO ++ 47 (34) 1999-2000 CBS affiliate, KGPE, owned by Nexstar Broadcasting Group.
Augusta, GA WFXG ++ 54 (51) 1999-2003 Fox affiliate owned by Raycom Media
Columbus - Opelika - Auburn WXTX ++ 54 (49) 1999-2003 Fox affiliate owned by American Spirit Media
(operated under an LMA by Raycom Media)
Boise KBOI-TV ++ 2 (9) 1999-2013 CBS affiliate owned by Sinclair Broadcast Group
KYUU-LD 35 (28) 2006-2013 The CW affiliate owned by Sinclair Broadcast Group
Idaho Falls - Pocatello KIDK ++ 3 (36) 1999-2013 CBS affiliate owned by VistaWest Media, LLC
(operated via LMA by News-Press & Gazette Company)
KXPI-LD 34 (34) 2006-2013 Fox affiliate owned by VistaWest Media, LLC
(operated via LMA by News-Press & Gazette Company)
Lewiston - Spokane - Coeur d'Alene -
Clarkston - Pullman - Moscow
KLEW-TV ++
(semi-satellite of KIMA)
3 (32) 1999-2013 CBS affiliate owned by Sinclair Broadcast Group
Bend KABH-CA
(satellite of KUNP)
15 Univision affiliate owned by Sinclair Broadcast Group
Eugene - Coos Bay - Roseburg KVAL-TV ++ 13 (25) 1999-2013 CBS affiliate owned by Sinclair Broadcast Group
KCBY-TV ++
(satellite of KVAL)
11 (21) 1999-2013 CBS affiliate owned by Sinclair Broadcast Group
KPIC ++
(satellite of KVAL)
4 (19) 1999-2013 CBS affiliate owned by South West Oregon TV Broadcasting Corp.
(jointly owned by Sinclair (50%) and COBI (50%))
KMTR 1 16 (17) 2013 NBC affiliate owned by Roberts Media, LLC
(Operated through a LMA by Sinclair Broadcast Group)
KMCB 1
(satellite of KMTR)
23 (22) 2013 NBC affiliate owned by Roberts Media, LLC
(Operated through a LMA by Sinclair Broadcast Group)
KTCW 1
(satellite of KMTR)
46 (45) 2013 NBC affiliate owned by Roberts Media, LLC
(Operated through a LMA by Sinclair Broadcast Group)
Portland - Vancouver - Salem KATU ** 2 (43) 1962-2013 ABC affiliate owned by Sinclair Broadcast Group
KUNP 16 (16) 2006-2013 Univision affiliate owned by Sinclair Broadcast Group
Seattle - Tacoma - Olympia - Bellingham KOMO-TV ** 4 (38) 1953-2013 ABC affiliate owned by Sinclair Broadcast Group
KUNS-TV 51 (50) 2006-2013 Univision affiliate owned by Sinclair Broadcast Group
Yakima - Walla Walla - Pasco -
Richland - Kennewick
KIMA-TV ++ 29 (33) 1999-2013 CBS affiliate owned by Sinclair Broadcast Group
KEPR-TV ++
(semi-satellite of KIMA)
19 (18) 1999-2013 CBS affiliate owned by Sinclair Broadcast Group
KUNW-CD 2 (30) 2007-2013 Univision affiliate owned by Sinclair Broadcast Group
KVVK-CD
(satellite of KUNW)
15 (15) 2007-2013 Univision affiliate owned by Sinclair Broadcast Group
KORX-CA
(satellite of KUNW)
16 2007-2013 Univision affiliate owned by Sinclair Broadcast Group
KWWA-CA
(satellite of KUNW)
49 2007–2008 defunct
Ceased operations April 17, 2008 due to antenna failure.)

Other Note:

  • 1 Owned by Roberts Media, LLC, Fisher operated KMTR under a Shared services agreement with KVAL.

Contract Dispute[edit]

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.[12] 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[edit]

  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 Reaches Settlement In Shareholder Suit". All Access. July 29, 2013. Retrieved August 6, 2013. 
  8. ^ "Fisher Shareholders Approve Sale To Sinclair". NetNewsCheck. August 6, 2013. Retrieved August 6, 2013. 
  9. ^ http://licensing.fcc.gov/prod/cdbs/pubacc/Auth_Files/1563064.pdf
  10. ^ "Sinclair Broadcast Group Closes On Fisher Communications Acquisition". All Access. August 8, 2013. Retrieved August 8, 2013. 
  11. ^ Fisher Communications Agrees to Purchase Two Bakersfield Television Stations
  12. ^ http://www.dishnetwork.com/campaigns/fair_satellite/default.aspx?zipEntry=97034&Submit=Submit+%C2%BB