May Decide to Sell the Company
Fisher Communications announces that its Board of Directors has "decided to explore and evaluate potential strategic alternatives intended to enhance shareholder value, which could result in, among other things, a possible sale of the Company." Fisher has retained Moelis & Company as its financial advisor and White & Case LLP and Perkins Coie LLP as its legal counsel. The company notes that it has not made a decision to pursue any specific strategic transaction or any other strategic alternative, and there is no set timetable for the strategic review process. "There can be no assurance that the exploration of strategic alternatives will result in the consummation of any transaction. Due to the Board's decision to explore and evaluate strategic alternatives, the Company will delay the date of its 2013 annual meeting of shareholders to a date that is not earlier than June 9, 2013." The Seattle-based Fisher Communications owns three radio stations -- Hot AC KPLZ-FM, News KOMO-AM (simulcast on KOMO-FM) and Talk KVI-AM -- and 13 full power TV stations plus seven low power TV stations, Fisher Interactive Network, its online division and Fisher Pathways, a satellite and fiber transmission provider. Fisher does not own KOMO-FM, but operates it under an LMA with South Sound Broadcasting.
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