Fisher Board Rejects Unsolicited Bid
June 23, 2008 at 5:55 AM (PT)
FISHER COMMUNICATIONS has announced that it received an unsolicited bid from an unnamed financial sponsor to buy all of FISHER's outstanding common shares at a price between $43 and $45 per share in cash. FISHER's board of directors unanimously rejected the bid as not in the best interests of shareholders.
FISHER has previously indicated that it is interested in selling its real estate holdings. The company owns eight radio stations, 13 full-power TV stations (one with a 50% interest), and eight LPTVs.