Fisher Communications Board Mulls 'Strategic Alternatives,' May Sell Company
January 10, 2013 at 4:54 AM (PT)
FISHER COMMUNICATIONS, INC.has announced 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," according to a press release issued TODAY (1/10). MOELIS AND CO. has been enlisted as financial advisor and WHITE & CASE LLP and PERKINS COIE LLP as legal counsel.
In the release, FISHER said that it has not made a decision to pursue any specific transaction or strategic alternative and will not comment any further on the process until a decision has been made. It is also delaying its annual shareholders' meeting until after JUNE 9th at the earliest.
FISHER owns News KOMO-A (with an LMA to simulcast on SOUTH SOUND BROADCASTING's KOMO-F), Hot AC KPLZ (STAR 101..5), and Talk KVI-A/SEATTLE along with several television stations in the PACIFIC NORTHWEST and BAKERSFIELD, CA, and a series of websites.