Fisher Communications, Inc. Announces Retirement of Phelps K. Fisher From the Board of Directors
March 12 2009 - 9:00AM
Marketwired
Fisher Communications, Inc. (NASDAQ: FSCI) today announced that
Phelps K. Fisher will be retiring from the Board of Directors
effective April 1, 2009.
Mr. Fisher has been the Company's Non-Executive Chairman since
2003, and has served the Company for more than 55 years in a
variety of capacities including as an employee, director, chairman
and shareholder.
"It has been an honor for me to be affiliated with this great
organization over such a long period of time and I know that going
forward, Fisher Communications will continue to educate, entertain
and improve the communities that we serve," said Mr. Fisher. "While
the current economic situation presents challenges for this Company
and many like it, Fisher has repeatedly demonstrated throughout its
100-year history that it is capable of adapting to new and trying
circumstances and I am confident it will do so again. I leave the
Company in capable hands."
Upon Mr. Fisher's retirement, Michael D. Wortsman will become
the Company's Non-Executive Chairman of the Board. Mr. Wortsman
joined the Board in July of 2007 and is currently a private
investor focusing on television content and feature film
production. He is Senior Managing Partner of Frontera Productions
LLC. He was President of the Univision Television Group, the
leading Spanish-language media company in the United States from
1997 until the sale of Univision in April 2007. Mr. Wortsman
previously held various executive positions at ABC, FOX and NBC
owned television and radio stations.
Commenting on Mr. Fisher's retirement, Mr. Wortsman said: "For
more than a half of Fisher's 100-year history, Phelps has been an
important part of the Company and during that time he has been an
unwavering advocate for our customers, employees and shareholders.
Phelps was a driving force behind Fisher's successful
transformation from a flour milling company into the regional
broadcasting company we are today. On behalf of the Board and our
employees, I want to thank Phelps for his many accomplishments and
contributions and for his tireless efforts to better serve our
customers and communities."
The Company also announced today that at the request of
Directors William W. Warren, Jr. and George F. Warren, Jr., the
Board will be reconstituting the Nominating and Corporate
Governance Committee and replacing these two Directors on the
committee following the 2009 Annual Meeting.
About Fisher Communications
Fisher Communications, Inc. is a Seattle-based communications
company that owns and operates 13 full power television stations
(including a 50%-owned television station), 7 low power television
stations and 8 radio stations in the Western United States. The
Company owns and operates Fisher Pathways, a satellite and fiber
transmission provider; and Fisher Plaza, a media,
telecommunications, and data center facility located near downtown
Seattle. For more information about Fisher Communications, Inc., go
to www.fsci.com.
Media Contacts: Sard Verbinnen & Co Paul Kranhold or Ron Low
(415) 618-8750
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