Fisher Communications Inc – ‘8-K’ for 5/8/00 – EX-99.1

On:  Friday, 5/12/00, at 4:01pm ET   ·   For:  5/8/00   ·   Accession #:  1032210-0-1017   ·   File #:  0-22439

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Form 8-K Dated 05/08/2000                              4     10K 
 2: EX-10.1     Purchase Agreement Dated 05/08/2000                   31    124K 
 3: EX-99.1     Press Release Dated 05/08/2000                         1      7K 

EX-99.1   —   Press Release Dated 05/08/2000

EX-99.1
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                                                                    EXHIBIT 99.1

FOR IMMEDIATE RELEASE                                                           

Contact:   Christopher G. Wheeler of Fisher Companies Inc., 206-224-6784        

FISHER COMPANIES ANNOUNCES AGREEMENT TO SELL KJEO-TV,   
FRESNO TO THE ACKERLEY GROUP  

SEATTLE, WASHINGTON--May 8, 2000--Fisher Companies Inc. (FSCI) has signed an    
agreement to sell KJEO-TV, Fresno, CA to The Ackerley Group for $60 million,    
subject to FCC and Hart Scott Rodino Act approval. Completion of the sale is    
expected to occur by the end of third quarter, 2000. Credit Suisse First Boston 
acted as financial adviser to the company.                                      

Net proceeds from the sale will be used to reduce debt. The sale is anticipated 
to be accretive to earnings next year, as the savings in interest expense will  
be greater than the station's projected net income.                             

"While we consider Fresno to be a solid market, it was marginal for us          
geographically, and The Ackerley Group offer was compelling," said Fisher       
President and CEO, William W. Krippaehne, Jr. "We remain focused on             
opportunities for our communications and media businesses that fit our strengths
and long-term strategies."                                                      

Fisher Companies currently owns and operates 13 network-affiliated television   
stations and 26 radio stations. Fisher Plaza, a new state-of-the-art            
connectivity hub located in Seattle, has begun to serve a rapidly growing       
communications community of information enterprises. Anchor members include     
Fisher-owned KOMO TV and InterNAP Network Services Corporation. Local, regional,
national, and international content providers, as well as long-haul fiber       
carriers, local service providers, cable networks, and Fisher's satellite and   
fiber transmission services will be moving into the facility during the         
remainder of 2000.                                                              

This release includes forward-looking statements that are subject to certain    
risks and uncertainties, including those discussed in the Form 10-K filed with  
the SEC by Fisher Companies Inc. for the year ended December 31, 1999, that     
could cause actual results to differ materially from those projected.           

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing		Date		Other Filings
Filed on:		5/12/00
For Period End:		5/8/00
		12/31/99		10-K
				List all Filings