Fisher Communications Explained

Fisher Communications, Inc.
Type:Public
Traded As:NASDAQ

FSCI

Fate:Acquired by Sinclair
Successor:Sinclair Broadcast Group
Location:Seattle, Washington, United States
Key People:Colleen Brown
(President) & (CEO)
Michael D. Wortsman (Chair)
Robert I. (Rob) Dunlop (EVP) (Ops)
Area Served:Northwestern United States
Revenue:$164.0M (6.8%) 2011
Net Income:$36.4M (273.8%) 2011
Num Employees:784 (5.3%) 2011
Industry:Broadcasting, Television, Radio

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 the Gannett Company.

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] By 2011, Fisher Communications was down to 10 radio stations.[5] 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.[6] Shortly after the announcement, a lawsuit was filed by a Fisher shareholder;[7] the suit was settled in July 2013,[8] on August 6 Fisher's shareholders approved the merger.[9] The FCC granted its approval of the sale of August 7.[10] On August 8, Sinclair announced that the sale was completed.[11]

Final stations

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

Radio

AM Station FM Station
City of license / MarketStationYears ownedCurrent status
Billings, MTKBLG 9101994–2006 Owned by Desert Mountain Broadcasting
KYYA 93.31994–2006 KURL, owned by Elenbaas Media, Inc
KRKX 94.11994–2006 Owned by Desert Mountain Broadcasting
KRZN 96.3 **1998–2006 Owned by Desert Mountain Broadcasting
Butte, MTKXTL 13701994–2006 Owned by Townsquare Media
KAAR 92.51994–2006 Owned by Townsquare Media
KMBR 95.51994–2006 Owned by Townsquare Media
Great Falls, MTKXGF 14001994–2011 Owned by STARadio Corporation
KQDI 1450–2011 Owned by STARadio Corporation
KAAK 98.91994–2011 Owned by Townsquare Media
KIKF 104.9 **2001–2011 Owned by STARadio Corporation
KQDI-FM 106.1–2011 Owned by STARadio Corporation
KINX 107.3 **2002–2011 KIMO, owned by Montana Radio Company
Missoula, MTKYLT 1340–2006 Owned by Townsquare Media
KGRZ 14501994–2006 Owned by Townsquare Media
KGGL 93.31994–2006 Owned by Townsquare Media
KXDR 98.7–2006 KHKM, owned by Legacy Broadcasting, Inc.
KZOQ-FM 100.1–2006 Owned by Townsquare Media
KBQQ 106.72003–2006 KXDR, owned by Cherry Creek Radio
Portland, ORKOTK 10901996–2003 KFXX, owned by Audacy, Inc.
KWJJ-FM 99.51996–2003 Owned by Audacy, Inc.
SeattleTacoma, WAKVI 5701994–2013 Owned by Lotus Communications
KOMO 1000 **1926–2013 KNWN, owned by Lotus Communications
KOMO-FM 97.7KNWN-FM, owned by Lotus Communications
KPLZ-FM 101.51994–2013 Owned by Lotus Communications
Wenatchee, WAKWWX 1340–2006 KYSP, owned by Townsquare Media
KWWW-FM 96.7–2006 Owned by Townsquare Media
KYSN 97.71994–2006 Owned by Townsquare Media
KXAA/KAPP 99.51994–2006 KAPL-FM, owned by Townsquare Media
KZPH 106.71997–2006 KKWN, owned by Townsquare Media

Television

City of license / MarketStationChannelYears ownedCurrent status
Bakersfield, CA[12] KBAK-TV292008–2013CBS affiliate owned by Sinclair Broadcast Group
KBFX-CD582008–2013Fox affiliate owned by Sinclair Broadcast Group
FresnoVisalia, CAKJEO 471999–2000CBS affiliate KGPE, owned by Nexstar Media Group
Augusta, GA541999–2003Fox affiliate owned by Lockwood Broadcast Group
Columbus, GAWXTX541999–2003Fox affiliate owned by American Spirit Media
Boise, ID21999–2013CBS affiliate owned by Sinclair Broadcast Group
KYUU-LD352006–2013The CW affiliate owned by Sinclair Broadcast Group
Idaho FallsPocatello, IDKIDK31999–2013Dabl affiliate owned by VistaWest Media, LLC
KXPI-LD342006–2013Fox affiliate owned by News-Press & Gazette Company
Lewiston, ID–Spokane, WAKLEW-TV31999–2013CBS affiliate owned by Sinclair Broadcast Group
Bend, ORKABH-CA15Defunct, license cancelled in 2015
Eugene–Coos BayRoseburg, OR131999–2013 CBS affiliate owned by Sinclair Broadcast Group
KCBY-TV111999–2013CBS affiliate owned by Sinclair Broadcast Group
KPIC41999–2013CBS affiliate owned by South West Oregon TV Broadcasting
KMTR162013NBC affiliate owned by Roberts Media, LLC
KMCB232013NBC affiliate owned by Roberts Media, LLC
KTCW462013NBC affiliate owned by Roberts Media, LLC
Portland, OR–Vancouver, WAKATU **21962–2013ABC affiliate owned by Sinclair Broadcast Group
KUNP162006–2013Univision affiliate owned by Sinclair Broadcast Group
SeattleTacoma, WAKOMO-TV **41953–2013ABC affiliate owned by Sinclair Broadcast Group
KUNS-TV512006–2013The CW affiliate owned by Sinclair Broadcast Group
YakimaWalla Walla, WAKIMA-TV291999–2013CBS affiliate owned by Sinclair Broadcast Group
KEPR-TV191999–2013CBS affiliate owned by Sinclair Broadcast Group
22007–2013Univision affiliate owned by Sinclair Broadcast Group
KVVK-CD152007–2013Univision affiliate owned by Sinclair Broadcast Group
KORX-CA162007–2013Univision affiliate owned by Sinclair Broadcast Group
KWWA-CA492007–2008Defunct, ceased operations in 2008

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]

Notes and References

  1. News: Vrana. Debrora. Fisher Cos. Is Expected to Buy Retlaw's 11 TV Stations. July 20, 2012. Los Angeles Times. November 19, 1998.
  2. Web site: 8-K For 7/1/99. Fisher Communications Inc. filings. secinfo.com. October 20, 2007.
  3. Web site: Littleton. Cynthia. March 30, 1999. Fisher taps Winters. December 4, 2021. Variety. en-US.
  4. News: Allison. Melissa. KOMO owner Fisher Communications agrees to sale. April 12, 2013. The Seattle Times. The Seattle Times Company. April 11, 2013.
  5. http://www.answers.com/topic/fisher-communications-inc "Fisher Communications."
  6. Web site: 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. April 24, 2013.
  7. Web site: Fisher Communications, Inc. (FSCI) Investor Lawsuit to Stop Takeover by Sinclair Broadcast Group Announced by Shareholders Foundation . https://archive.today/20130629224357/http://www.nasdaq.com/article/fisher-communications-inc-fsci-investor-lawsuit-to-stop-takeover-by-sinclair-broadcast-group-announced-by-shareholders-foundation-20130422-00597%23.UXf1RNzrxPE . dead . June 29, 2013 . Press release . April 24, 2013 .
  8. News: Fisher Reaches Settlement In Shareholder Suit. August 6, 2013. All Access. July 29, 2013.
  9. News: Fisher Shareholders Approve Sale To Sinclair. August 6, 2013. NetNewsCheck. August 6, 2013. https://web.archive.org/web/20130908180930/http://www.netnewscheck.com/article/27949/fisher-shareholders-approve-sale-to-sinclair. September 8, 2013. dead.
  10. Web site: Application Search Details: File Number: BTCCDT-20130425ACH. fcc.gov . November 6, 2021 .
  11. News: Sinclair Broadcast Group Closes On Fisher Communications Acquisition. August 8, 2013. All Access. August 8, 2013.
  12. https://archive.today/20120715135841/http://phx.corporate-ir.net/phoenix.zhtml?c=61026&p=irol-newsArticle&t=Regular&id=1037227 Fisher Communications Agrees to Purchase Two Bakersfield Television Stations
  13. Web site: Feud Between DISH Network and Fisher Communications Cuts Local Affiliate Stations . December 29, 2008 . nbcrightnow.com. November 6, 2021.
  14. Web site: KATU, Fisher stations return to DISH Network . June 11, 2009 . KATU News . November 6, 2021.