Fisher Communications
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Fisher Communications, Inc. 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 in 2013. Prior to 2001, it was a conglomerate with businesses in broadcasting, flour milling and real estate.
History
- See also KNWN (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.[1]
In 1999 Retlaw Enterprises (a company owned by the relatives of Walt Disney) sold its remaining 11 television stations to Fisher Communications, including all of the related assets to those properties[2] for $215 million in cash.[1] Its broadcasting unit, until the 2000s, was Fisher Broadcasting. Also that year, Fisher is launching its own entertainment division, Fisher Entertainment, to be headed by Alan Winters, a syndication executive.[3]
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][5] By 2011, Fisher Communications was down to 10 radio stations.[6] 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.[7] Shortly after the announcement, a lawsuit was filed by a Fisher shareholder;[8] the suit was settled in July 2013,[9] on August 6 Fisher's shareholders approved the merger.[10] The FCC granted its approval of the sale of August 7.[11] On August 8, Sinclair announced that the sale was completed.[12]
Final stations
- Stations are arranged in alphabetical order by state and city of license.
- Two boldface asterisks appearing following a station's call letters (**) indicate a station built and signed on by Fisher Communications.
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Contract dispute
On December 17, 2008, Fisher Communications' contract expired with Dish Network. As a result of this contract dispute, stations owned by Fisher Communications were no longer available to Dish Network subscribers. Dish Network claimed that Fisher is asking for over an 80% increase.[13] The Fisher stations that returned to Dish Network are: KOMO and KUNS in Seattle.; KATU and KUNP in Portland.; KIMA in Yakima, Washington.; KVAL in Eugene, Oregon.; KBCI (now KBOI) in Boise, Idaho; KIDK in Idaho Falls, Idaho; and KBAK and KBFX in Bakersfield, California. Dish Network restored the service to their customers at 10:25 p.m. PST on June 10.[14]
References
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- ↑ Fisher Communications Agrees to Purchase Two Bakersfield Television Stations
- ↑ "Fisher Communications." Company Profile. Hoover's, Inc., 2012. Answers.com July 20, 2012.
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- Pages with script errors
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- Defunct companies based in Seattle
- Economy of the Northwestern United States
- Defunct broadcasting companies of the United States
- Sinclair Broadcast Group
- Companies formerly listed on the Nasdaq
- 2013 disestablishments in Washington (state)
- Mass media companies disestablished in 2013
- 2013 mergers and acquisitions
- 1997 initial public offerings