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Fisher sells Montana stations

T

Tig1150

Fisher Communications Sells Small-Market Radio Stations SEATTLE--(BUSINESS WIRE)--May 31, 2006--Fisher Communications, Inc. (NASDAQ:FSCI) announced today that it has signed a definitive agreement to sell its twenty-four small-market radio stations located in Montana and eastern Washington to Cherry Creek Radio LLC for $33.3 million. This sale, which is subject to FCC approval and certain other conditions, is expected to close by the end of third quarter 2006. Fisher will continue to own three radio stations in Seattle, as well as television stations in Washington, Oregon, and Idaho. In 2005, Fisher's small-market radio stations generated revenue of $12.2 million.
 
I may be biased because I work for them, but it's exciting to see CCR expanding and I'm proud to be a member of the family here at their Williston cluster!
 
Anyone know the status of the Great Falls stations? I thought I had heard that a number of them were placed in a holding trust pending liquidation. But is Cherry Creek allowed to keep any of the Fisher Stations to add to their already existing cluster?
 
Paul,

Change your stupid message. 22 years old and enjoying radio. :D :D :D :D :D

Come back in 20 years when you're still making 18K and tell us that :D :D :D :D
 
Laffer:

Im not in radio for the money, obviously...I truly love what I do and enjoy everu facet of it.
 
I'll tell ya about GF. It's a great big nightmare is what it is. You all should hear K99. Not even one jock live and they just screwed up the music. What a waste. Fisher has to take back the other 5 stations because FCC won't grant the trust.
 
Why wont the FCC grant the trust?

How badly did CCR screw up?
 
tjtfm said:
I'll tell ya about GF. It's a great big nightmare is what it is. You all should hear K99. Not even one jock live and they just screwed up the music. What a waste. Fisher has to take back the other 5 stations because FCC won't grant the trust.
Click to expand...

This can't be good.

Especially on the heels of Marathon (allegedly) getting ready to acquire all the Clear Channel Montana stations.
 
Here's the recent article in the Great Falls Tribune regarding the sale:

Article published Sep 16, 2006
Fisher, Cherry Creek scale back radio deal
By JAMES E. LARCOMBE Tribune Business Editor

A deal that initially would have had six Great Falls radio stations changing owners has been reworked, leaving just a single station in line to change hands.

Cherry Creek Radio, a Denver-area company, still plans to buy KAAK-FM, known as K-99, from Fisher Regional Radio Group. But the company will not buy five other Great Falls stations from Fisher as originally announced several months ago.

Cherry Creek already owns four stations in Great Falls and originally planned to sell the five Fisher stations other than KAAK-FM. The Federal Communications Commission allows one owner to have no more than six stations in a market the size of Great Falls.

Late last month, Cherry Creek asked the FCC for permission to amend the sale deal and allow it to buy just the single station.

"Cherry Creek will only get K-99 and will not be operating any of the other five stations," said Joe Schwartz, Cherry Creek's president, on Friday. "It just works out better that way for everybody."

For now, Fisher will continue to operate the five stations, which include AM stations 1400 KXGF, KQDI 1450 and FM stations KINX 107.3, KIK-FM 104.9 and KQDI-FM 106.1.

Efforts to contact Larry Roberts, a Fisher executive in Seattle, about the long-term future of the Great Falls stations were unsuccessful Friday.

When the original deal was announced in late May, Fisher said it was selling each of its 33 stations to Cherry Creek and exiting the radio business to focus on television operations.

Cherry Creek has begun to assume operations of 28 stations, excluding the five others in Great Falls. Those stations are in Billings, Butte, Missoula and Wenatchee, Wash.

In Great Falls, Cherry Creek already owns KMON AM 560, KMON-FM 94.9, KVVR FM 97.9 and KLFM 92.9.

Schwartz has said KAAK has been the most successful Fisher station and its Top 40 format fits best with Cherry Creek's other offerings.

While the station is currently located in the Fisher building at 1300 Central Ave. W., there are plans to move it to the Rainbow building at 20 3rd St. N.

"We don't own it yet and probably won't until after Nov. 1," said Schwartz.
 
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