Fisher Communications, Inc. and GAMCO Asset Management Inc. Reach Agreement on Director Nominees
March 20 2009 - 6:15PM
Marketwired
Fisher Communications, Inc. (NASDAQ: FSCI) today announced it has
reached an agreement with GAMCO Asset Management Inc. under which
Paul A. Bible and David Lorber will join incumbent director Deborah
L. Bevier as Fisher's Board of Directors' nominees for election at
the Company's 2009 Annual Meeting of Shareholders. All three
nominees will be included in the Company's proxy statement to be
distributed for the Annual Meeting, scheduled for April 28, 2009.
Under the terms of the agreement, GAMCO has agreed to withdraw
its notice of intent to nominate three Board candidates and to vote
all the shares that GAMCO and its affiliates own on behalf of their
clients, representing approximately 20% of Fisher's outstanding
shares, in support of all three Company nominees.
"We are pleased to have reached this agreement with our largest
shareholder, GAMCO, which we believe is in the best interests of
the Company and our shareholders," said Colleen B. Brown, President
and Chief Executive Officer of Fisher Communications. "By avoiding
a potentially costly and disruptive proxy contest, we are able to
remain one-hundred percent focused on executing our strategic plan
during this challenging time and improving Fisher's operational and
financial performance. We look forward to having the perspectives
of Mr. Bible and Mr. Lorber as we continue to transform Fisher into
a leading regional media company and work to deliver additional
value to our shareholders, viewers, listeners, and business
partners."
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.
Contact: Sard Verbinnen & Co Paul Kranhold or Ron Low (415)
618-8750
Fisher Communications (NASDAQ:FSCI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Fisher Communications (NASDAQ:FSCI)
Historical Stock Chart
From Jul 2023 to Jul 2024