They include Star 98.3 FM, KQDI 1450 AM, and Q-106. The sale will be finalized in October
Apparently they'd been making money: STARadio Vice President and General Manager Jim Senst said,
"Buying Fisher has just been a joy to do because these stations have been doing very well revenue-wise. This just didn't fit their business model and for us to expand our share or collection of radio stations, this was just natural."
Making money in radio is no longer in Fisher's business model?
"The acquisition of these stations by STARadio will complete the disposition of Fisher's small market radio group, which started in 2006," stated Colleen B. Brown, President & CEO of Fisher Communications which self-describes as "a leader in local media innovation."
Their media innovatin' presumably, is their disposin' and shrinkin'. Brown's nutty expansion back in the 2 thousandsies and her inability to dump the resulting acquisitions was a basis last month for some Wall Street investors to attempt a hostile takeover of the Fisher Board.
The disposin' of these properties began in October 2006 and in June 2007, Fisher sold 19 of its 24 small-market radio stations located in Montana and Eastern Washington to Cherry Creek Radio. They were unable to include the remaining Great Falls stations in the sale because of regulatory restrictions.
Fisher still operates 20 television stations, and 10 radio stations and is headquartered at Fisher Plaza, a 300,000 square foot media, telecommunications and data center white elephant they can't dispose of.
Under the head "Forward-Looking Statements" Fisher included this recquisite dont-have-any-expectations-of-us-from-reading-the-slaphappy/hopeful-bullshit-in this-press-release clause [emphases ours]:
This news release includes forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. Forward-looking statements include information preceded by, followed by, or that includes the words "guidance," "believes," "expects," "intends," "anticipates," "could," or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this news release, concerning, among other things, changes in revenue, cash flow and operating expenses, involve risks and uncertainties, and are subject to change based on various important factors, including the impact of changes in national and regional economies, our ability to service and refinance our outstanding debt, successful integration of acquired television stations (including achievement of synergies and cost reductions), pricing fluctuations in local and national advertising, future regulatory actions and conditions in the television stations' operating areas, competition from others in the broadcast television markets served by the Company, volatility in programming costs, the effects of governmental regulation of broadcasting, industry consolidation, technological developments and major world news events. Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this news release might not occur. You should not place undue reliance on these forward-looking statements, which speak only as of broadcasting, industry consolidation, technological developments and major world news events. Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this news release might not occur. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. For more details on factors that could affect these expectations, please see the risk factors in our Annual Report on Form 10-K for the year ended December 31, 2010, which we filed with the SEC on March 8, 2011.