• Get involved.
    We want your input!
    Apply for Membership and join the conversations about everything related to broadcasting.

    After we receive your registration, a moderator will review it. After your registration is approved, you will be permitted to post.
    If you use a disposable or false email address, your registration will be rejected.

    After your membership is approved, please take a minute to tell us a little bit about yourself.
    https://www.radiodiscussions.com/forums/introduce-yourself.1088/

    Thanks in advance and have fun!
    RadioDiscussions Administrators

As Fisher sells small town radio it adds Seattle's KWOG-TV

T

Tig1150

Press Release
Fisher Communications, Inc. Announces Purchase of Seattle Television Station KWOG

SEATTLE, Jun 28, 2006 (BUSINESS WIRE) -- Fisher Communications, Inc (Nasdaq:FSCI) today announced that its wholly-owned subsidiary, Fisher Broadcasting Company, has entered into an agreement to purchase the stock of African-American Broadcasting of Bellevue, Inc., licensee of television station KWOG, Bellevue, Washington, for $16 million. Fisher purchased 25% of the stock in conjunction with the execution of a Stock Purchase Agreement. The remaining 75% will be purchased following Federal Communications Commission approval of a transfer of control. During the term and prior to the completion of the acquisition, Fisher will have the opportunity to program KWOG pursuant to a Local Marketing Agreement.

Fisher intends to provide Hispanic programming on KWOG through a Univision affiliate.

"This station will provide Fisher the opportunity to obtain duopoly economics in a market in which we currently operate as well as serve our fast growing Hispanic population," stated Colleen Brown, President and Chief Executive Officer of Fisher Communications, Inc.

In addition to FCC approval, the transfer of control is subject to customary closing conditions. Fisher anticipates that the purchase may be funded with a combination of available cash and borrowings under its $20 million revolving line of credit.
 
While I know this is a "radio" board, this is HUGE for KOMO-TV. See a fast move by long suffering KOMO 4 News and it's programming, to do what KING 5 and KONG-TV do #1 in this market and successfully everyday. When the LMA gets approved, watch KOMO start-up counterprogramming and later, a 10pm newscast that more and more people are watching nowadays.

If I was KIRO-TV or KCPQ, I'd be worried. Fisher is going to rebuild itself and create perhaps a better cash maker than even KING in the long term.
 
Smart move on Fisher's part. I know the hispanic community will be happy to have a locally owned Spanish TV station, and local businesses will have another way to promote their services (99.3 FM can buy air time to promote their radio station as well). KOMO-TV could also produce a spanish-language newscast as well on KWOG. It's probably also a better use of the frequency than a shopping channel, revenue and bandwidth wise.

And with Univison coming to KWOG, that would free up ch. 98 on Comcast I guess, for Telemundo, Azteca America, or something else.
 
Totally agree it's a great move for Fisher and channel 4.

But it also sends a powerful message to those working for Fisher stations whose calls don't end with -TV: Update your resumes.

Methinks Fisher becomes a TV/Internet-only media company before Santa Claus takes his annual journey this year.
 
Not a bad idea, I'd drop radio like a rock too if I had TV as a preference.
 
Status
This thread has been closed due to inactivity. You can create a new thread to discuss this topic.


Back
Top Bottom