SEATTLE, WA, May 27 (MARKET WIRE) --
Fisher Communications, Inc. (NASDAQ: FSCI) announced today that, consistent
with the execution of its Strategic Plan, it is exploring alternatives for its
real estate holdings, including Fisher Plaza.
Fisher Plaza is a Class A office, data center, and retail campus located
near
Downtown Seattle, with approximately 294,000 rentable square feet. In 2008,
Fisher expects the property to generate approximately $7.5 million in
earnings before interest, taxes, depreciation and amortization
attributableto the approximately 60% of the property not occupied by
Fisher-owned entities.
"While Fisher Plaza has been a desirable facility to develop and own, it
represents a very valuable non-core asset that we do not believe is fully
reflected in the value of the Company," said Colleen B. Brown, Fisher's
president
and CEO.
There can be no assurance that the exploration of alternatives involving
Fisher
Plaza or any of the Company's other real estate holdings will result in a
transaction.
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), eight low power television stations and eight radio
stations in the Western United States. The Company owns and operates
FisherPathways, a satellite and fiber transmission provider; Fisher Plaza, a
media, telecommunications, and data center facility located near downtown
Seattle;
and Pegasus News, an online start-up and hyper-local media pioneer based in
Dallas. For more information about Fisher Communications, Inc., go to
www.fsci.com.
Contact:
Joseph L. Lovejoy
SVP & Acting Chief Financial Officer
Fisher Communications, Inc.
Phone: (206) 404-6756
Fax: (206) 404-6796
Email: jlovejoy@fsci.com
Copyright 2008, Market Wire, All rights reserved.
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