Fisher Communications Inc – ‘8-K’ for 7/1/99 – EX-99.1

On:  Thursday, 7/15/99   ·   For:  7/1/99   ·   Accession #:  1032210-99-1051   ·   File #:  0-22439

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         3     13K 
 2: EX-2.2      Amendment No. 3 to Asset Purchase & Sale Agreement     6     24K 
 3: EX-2.3      Amendment No. 4 to Asset Purchase & Sale Agreement     6     22K 
 4: EX-99.1     Press Release Issued by the Company on 7/2/1999        1      8K 

EX-99.1   —   Press Release Issued by the Company on 7/2/1999

EX-99.1
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                                                                    EXHIBIT 99.1

FISHER COMPANIES INC. ACQUIRES THE ELEVEN TELEVISION STATIONS OF RETLAW 
BROADCASTING L.L.C. 

SEATTLE, WASHINGTON--July 2, 1999--Fisher Companies Inc. (FSCI) announced today 
that the transaction to purchase the broadcasting assets of Retlaw Enterprises, 
Inc. has been completed.  The acquisition was financed from proceeds of Senior  
Credit Facilities with Bank of America National Trust and Savings Association as
administrative agent, and Credit Suisse First Boston as syndication agent.      
Total consideration for the assets was $216.7 million, which included $7.6      
million of working capital.                                                     

Expansion of television holdings from two to thirteen stations reflects Fisher's
plan to expand its presence and coverage in the eleven western states, and to   
strengthen its position in the rapidly emerging digital information industry.   
Patrick M. Scott, President and CEO of Fisher Broadcasting, views the           
acquisition as a complement to the company's development of Fisher Plaza in     
Seattle, new home of KOMO Television and the Fisher digital media management and
transmission hub for its television, radio, entertainment, and technology       
divisions.                                                                      

Commenting on the acquisition, Mr. Scott said, "This action takes us immediately
from a Seattle-Portland television broadcaster to a regional content and        
communications provider.  In addition, with the completion of Fisher Plaza      
scheduled for early 2000, plus our twenty-six radio stations, we have an        
integrated network of programming and distribution assets which will help us    
meet the growing demand for quality content.  Our growth will be achieved       
through developing innovative distribution platforms, like these stations, that 
take full advantage of our leadership role in content creation and applied      
digital technologies."                                                          

Ben Tucker, formerly President of Retlaw Broadcasting, will join Fisher         
Broadcasting as Senior Vice President of the newly formed Fisher Television     
Regional Group where he will be accountable for managing the stations formerly  
under Retlaw ownership.  Fisher Broadcasting television stations now include:   
KOMO-TV, the ABC affiliate in Seattle, WA; KATU Television, the ABC affiliate in
Portland, OR; KJEO-TV, the CBS affiliate in Fresno-Visalia, CA; KIMA-TV, the CBS
affiliate in Yakima, WA and its satellites KEPR-TV, the CBS affiliate in Pasco, 
WA and KLEW-TV, the CBS affiliate in Lewiston, ID; KIDK-TV, the CBS affiliate in
Idaho Falls, ID; KBCI-TV, the CBS affiliate in Boise, ID; KVAL-TV, the CBS      
affiliate in Eugene, OR and its CBS-affiliated satellites, KCBY-TV in Coos Bay, 
OR and KPIC-TV in Roseburg, OR; WFXG-TV, the Fox affiliate in Augusta, GA; and  
WXTX-TV, the Fox affiliate in Columbus, GA.                                     

In addition to its broadcasting business, Fisher Companies Inc. owns            
subsidiaries in flour milling and food distribution (Fisher Mills), and         
proprietary real estate development (Fisher Properties).                        

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing		Date		Other Filings
Filed on:		7/15/99
		7/2/99
For Period End:		7/1/99		8-K/A
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