BREAKING: Hearst buys-out Fisher

Seattle's last home-owned media company has been bought by media conglomerate Hearst Corporation.

"It's all over but the signin'," says our source at Fisher Plaza. Fisher CEO Colleen Brown isn't taking our calls, which is nothing new, of course.

The source, who's close to Board chair Phelps Fisher says there was extreme secrecy in the negotiations: the principals met in such far-flung locations as New York, Vancouver, BC, and Rosario Resort on Orcas Island. 

The deal between Hearst who owns the Seattle Post-Intelligencer, and Fisher who owns KOMO TV and AM radio as well as KVI is now allowable after the FCC overturned the 32-year ban last December prohibiting radio or television broadcasters in major markets from owning a daily newspaper in the same town.

"There's a faction in the family that thinks they should be still making flour," says our guy.

Fisher started as a flour milling company, but sold off the mills in the 1990's. 

"They've not been thrilled with the performance, and prospects of the company," he says. "Especially locally. KOMOTV never seems to be able to prevail over KING or channel 7. They worry about what will be left of KOMOAM if they lose the Mariners and KVI is just husk of its former self."

Fisher Plaza, the high-tech home office space completed in 2002, is a huge financial drag on the company; much of the high-priced downtown space is still vacant.

Fisher Communications operates 13 full power and 8 low power television and 8 radio stations in the Northwest.

Hearst Corporation is one of the largest diversified communications companies in the world. Its major interests include 12 daily and 20 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, and Albany Times Union; nearly 200 magazines around the world, including Cosmopolitan and O, The Oprah Magazine; 28 television stations through Hearst-Argyle Television which reach a combined 18% of U.S. viewers; ownership in leading cable networks, including Lifetime, A&E, The History Channel and ESPN; as well as business publishing, Internet businesses, television production, newspaper features distribution and real estate.

Comments

[Duffman]

But first they must run it by Carleen, right?

[really]

Is this an April Fool's joke?

[Duffman]

Really, really I wouldn't trust it until you hear it directly from the main source 'Carleen' and/or her attorneys.

[Lindner]

I've been thinking something was up around here. Lots of glum people.

[Schlomo]

It's the Seattle Times who ought to be glum. Hooking up and consolidating all those newsrooms could give Hearst the corner on this market in TV, radio and print. Wonder what wilkl happen to KVI, it's really flat and has been for a long while.

[kirodog]

Another blow to live and local in Seattle.

[litlnemo]

They took the word "gullible" out of the dictionary today too.

[sclub]

How soon does the P-I take over KVI?

[AuthenticAndrew]

Secret negotiations at the "Rosario Resort on Orcas Island". Laugh.

[Ryan]

April Fools?

[Chris]

Assuming this is real....

At least we wont have to listen to that annoying "jingle...Fisher Communications" tagline after each KOMO TV broadcast and promo on their radio stations from the announcer guy that took too many growth steroids in college. Heck, Fisher Communications is too full of its damn self anyway; It had to F-ing a plaza after itself and frequently rubs your face in it when listen to another fine radio station of theirs (Star 101.5).

Bye Fisher! Hasta la viesta!

[Canuckophile]

I'm glad I remembered it's April Fool's Day. I was excited/sad for a moment.

[AuthenticAndrew]

This is absolutely the last blog on earth that would let the day pass when it can screw with as many people as possible with immunity.

[Peter Puget]

hohohohohoh the day this would be true would be the day that Nestle turned the Butterfinger bar into the Finger bar!

Oh oh...

I give you the finger, make a stack of pancakes and hope that... the viaduct collapes and you will pray for the advice of Paul Tosch...
that and thank you Brian Gregory for making the market go up 400 points... April Fools Day!!

[david]

Secret negotiations at the "Rosario Resort on Orcas Island".

- I loved that line, too.

Rosario Resort has an awesome resturant there by the water. Highly recommended for romantic affairs.

[AuthenticAndrew]

We stayed in their round house for our honeymoon. It's a little creepy though because you can see through the window shades. The steak rub is realy good but crazy crazy expensive. The pool is very wierd but cool because it's probably very old. I want to go back there when I'm old and into that kind of thing for fun.

[william]

My neck is red my coller is blue,
i.am happy dick cheney don.t care what you libs think. you libs are bad for america. do you know the meaning of bad . b. stands for blacks a. stands for aliens and d. stands for democraps. all you libs have is negativisam for the president of the u.s.a.
If you don't like capitolism, which by the way, this great country of ours was founded on, then move the hell out and find some socialist country where you'll be happy, like the surrender shits of France. Who are you to dictate what YOU think is too much profit on oil, or anything else for that matter? Remember, it's a PRIVALAGE to drive a fossil fuel burning car, NOT a right, so quit complaining about oil, and move on. Get a horse and sell your car, then you can bellyache all you want about the price of alfalfa and nobody will give a rat's rearend. God bless this country.

[Darlene Mc Bride]

Like to heer a song, hear goes,

The Lord loves the NRA, He told me so the other day; He spelled it out in bullets in the sky. He's sittin' up in heaven with his AK-47, He's a rough-and-ready macho kinda guy."

[David Tatelman]

I assume that William's post is also an April Fools joke?