By Greg Hazley
Fisher Communications, the publicly traded Seattle-based TV broadcaster, is working with its outside PR counsel as it pursues a sale or other options under pressure from an activist investor.
Sard Verbinnen & Co's San Francisco office is supporting communications for long-time client Fisher, which said today that it has hired financial and legal counsel to explore "strategic alternatives," including a possible. The company has postponed its annual shareholder meeting until June 9.
Sard managing director Ronald Low advises Fisher.
Fisher owns 20 TV stations (13 full-power) in the western U.S., along with radio and online properties.
Reuters reported that GAMCO's Mario Gabelli, who owns more than 28% of Fisher, has been pushing for a leveraged restructuring and said he's considering his own slate of board nominees.
Fisher shares were up more than 15% in Jan. 10 trading following the announcement. They are trading around $33, at the higher end of its $22.76-37.44 52-week range. |