Fisher Communications, Inc. (NASDAQ: FSCI), a leader in local media
innovation, today announced its four nominees for election to the
Company's Board of Directors at its 2012 Annual Meeting of
Shareholders.
The slate of nominees includes Paul A. Bible, an independent
director since 2009 and non-executive Chairman since 2011, Matthew
Goldfarb, who was elected in 2011, and Peter E. Murphy, who has
served on the Board since January 2012.
Fisher also announced that David A. Lorber, Co-Founder and
Portfolio Manager of FrontFour Capital Group, has informed the
Company that he will resign from the Board effective immediately to
concentrate on his responsibilities of managing FrontFour's growing
portfolio.
As part of an agreement with FrontFour, the Company has
nominated Mr. Goldfarb and Frank P. Willey, Vice Chairman of
Fidelity National Financial, Inc. and a partner in the law firm of
Hennelly & Grossfeld, LLP. Mr. Willey, who has significant
public company management and board experience, was recommended by
FrontFour, and will stand for election at the 2012 Annual
Meeting.
Paul Bible commented, "During David's tenure on the Board,
Fisher's management and Board strengthened the Company by repaying
its $150 million of outstanding long-term debt and selling its
non-core asset, Fisher Plaza, for $160 million. We share David's
commitment to create lasting value for our shareholders and
appreciate FrontFour's recommendation of Frank Willey to serve on
our Board. We remain focused on executing our strategic plan for
the benefit of all of our stakeholders."
David Lorber said, "During my term, Fisher's Board has taken
decisive actions to improve the Company's balance sheet and
position the Company for ongoing success and shareholder value
creation. As I leave the Board to focus on other companies within
the FrontFour portfolio, I have confidence in the current
composition of Fisher's Board and believe that Frank Willey would
be a strong contributor to the Company's continued success."
The biographies of Fisher's Class 1 and Class 3 director
candidates are as follows:
Class 1 Candidates (Terms to expire as of the 2015 Annual
Meeting of Shareholders):
Paul A. Bible
Mr. Bible is a senior partner in Lewis & Roca LLP. He
currently serves as a non-director member of the independent
governance committee of AMERCO. He is also a former Chairman of the
Nevada Gaming Commission, the University of Nevada, Reno
Foundation, and the Truckee Meadows Community College
Foundation.
Matthew Goldfarb
Mr. Goldfarb is the Vice Chairman of Xinergy Ltd. Previously,
Mr. Goldfarb served as a Portfolio Manager with Fourth Street
Holdings, L.L.C. and managed leveraged loan trading businesses at
Pali Capital, Inc. and Tradition North America, Inc. Earlier in his
career, he was a Director and Senior Investment Analyst of
Blackstone Group/GSO Capital Partners and a Director and Senior
Investment Analyst at Pirate Capital LLC. Prior to that, Mr.
Goldfarb was with Icahn Associates Corp., as well as an associate
with the law firm of Schulte Roth & Zabel LLP.
Frank P. Willey
Mr. Willey is a non-equity partner of Hennelly & Grossfeld,
LLP. He is currently the Vice Chairman of the Board of Fidelity
National Financial, Inc., where he has held various executive
positions, including President and Executive Vice President and
General Counsel, and has been a director since 1984.
Class 3 Candidate (Term to expire as of the 2014 Annual Meeting
of Shareholders):
Peter E. Murphy
Mr. Murphy is the founder of Wentworth Capital Management.
Previously, he was President, Strategy & Development for
Caesars Entertainment, as well as an operating partner at Apollo
Global Management. Mr. Murphy also spent 18 years at The Walt
Disney Company, serving in a number of senior management positions,
including Senior Executive Vice President, Chief Strategic Officer,
Senior Advisor to the CEO, and CFO of ABC, Inc.
Important Additional Information
In connection with its 2012 Annual Meeting of Shareholders, the
Company will file a proxy statement and other documents regarding
the 2012 Annual Meeting with the Securities and Exchange Commission
and will mail the definitive proxy statement and a proxy card to
each shareholder of record entitled to vote at the 2012 Annual
Meeting. SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY
OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE BECAUSE THEY
WILL CONTAIN IMPORTANT INFORMATION. When they are available, the
proxy statement and other documents relating to the 2012 Annual
Meeting can be obtained free of charge from the SEC's website at
http://www.sec.gov. These documents can also be obtained free of
charge from the Company at its website, www.fsci.com, under:
Investor Information - SEC Filings.
The Company and its directors and executive officers may be
deemed to be participants in the solicitation of proxies in
connection with the 2012 Annual Meeting. INFORMATION REGARDING THE
INTERESTS OF THE DIRECTORS AND EXECUTIVE OFFICERS IS SET FORTH IN
THE COMPANY'S ANNUAL REPORT ON FORM 10-K FOR ITS FISCAL YEAR ENDED
DECEMBER 31, 2011 FILED BY THE COMPANY WITH THE SECURITIES AND
EXCHANGE COMMISSION ON MARCH 9, 2012 AND IN THE COMPANY'S
DEFINITIVE PROXY STATEMENT RELATING TO ITS 2012 ANNUAL MEETING OF
SHAREHOLDERS EXPECTED TO BE FILED BY THE COMPANY WITH THE
SECURITIES AND EXCHANGE COMMISSION IN APRIL 2012.
About Fisher Communications, Inc.
Fisher Communications (FSCI) is an innovative local media
company with television, radio, internet and mobile operations
throughout the western United States. Fisher operates 18 television
stations, which include network affiliations with ABC, CBS, FOX,
Univision and The CW that reach 3.5% of U.S. television households,
and three radio stations targeting a full range of audience
demographics. Fisher Interactive produces more than 120 local and
hyper-local websites and delivers comprehensive multiplatform
advertising solutions to local businesses. The Company is
headquartered at Fisher Plaza in Seattle, WA. More information
about Fisher Communications, Inc. is available at www.fsci.com.
Contact: Sard Verbinnen & Co Ron Low/David Isaacs
(415) 618-8750
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