Originally published Monday, June 23, 2008 at 12:00 AM
Seattle's Fisher Communications rejects takeover bid
The Seattle broadcasting company Fisher Communications says it has rejected an unsolicited takeover offer worth about $384 million.
The Seattle broadcasting company Fisher Communications says it has rejected an unsolicited takeover offer worth about $384 million.
The company says in a today statement that the board decided the bid last April was not in the best interest of shareholders.
Fisher owns and operates 13 full power TV stations, eight low power TV stations and eight radio stations in the West. They include KOMO-TV and radio in Seattle.
The company also owns and operates Fisher Pathways transmission service, the Fisher Plaza building near the Seattle Center, and a Dallas-based online local news service called Pegasus News.
In a regulatory filing this morning, New York investment firm TowerView, which owns 9.5 percent of Fisher's stock, said that in the course of conversations with shareholders and others concerning the company, TowerView has heard that a proposal was made to acquire the Company at a price in the range of $43 to $45 per share and that this proposal was recently rejected by the Company.
TowerView said it reported the takeover talk so it would not be constrained by insider trading rules from trading in Fisher stock.
Fisher shares were up $2.74, or 8.6 percent, to $34.60 in early trading today.
Copyright © 2008 The Seattle Times Company
Food-safety lawyer's wish: Put me out of business
Illegal workers quietly let go
Metro won't cut bus service after all
Jerry Large: Food-bank theft turns into a gift
Bumper to Bumper: How can the city let bridges go dark?

PNW Magazine | Easy As Pie
A little friendly competition between professional pie-baker Kate McDermott and The Seatttle Times' Kathleen Triesch Saul is handled with great taste.
general classifieds
Garage & estate salesFurniture & home furnishings
Sporting goods
just listed
42" Hitachi Plasma 1080i - $500
8 Drawer Dresser with Attached Mirror - $200
8 seat pecon formal dining table and china hutch - $1500
More listings
POST A FREE LISTING
shopping
Give yourself a treat and visit Watson Kennedy's Holiday Open Houses
More minding the store
events for Monday, Nov. 23
- Amy Bengtson Holiday Trunk Show
- Metropolitan Pilates Pre-Thanksgiving Sale
- Castle Discount with Military ID
- Sur La Table November sale
editors' picks
- Spas & beauty salons
- Vintage, consignment and used clothing
- Phinney Ridge & Greenwood shopping
- Independent video stores
- 'The Road' takes Viggo Mortensen to Mount St. Helens and Astoria, Ore.
- Tugboat sinks at Seattle waterfront pier
- Illegal workers quietly let go
- Child-support error costs nearly $21,000
- Vikings easily beat the Seahawks
- Craigslist adoption ad: A plea by young mother-to-be? A scam?
- Chase shrugs off loss of CD investors
- Woman stabbed by stranger in North Seattle
- Snow piles up on Cascade slopes
- Denny Triangle gains skyline, but tenants slow to come
- Illegal workers quietly let go
381 - Climate change speeds up since 1997 Kyoto accord
210 - Metro won't cut bus service after all
159 - New Husky recruit: Enes Kanter
101 - Historic health care bill clears Senate hurdle
96 - Tattoos at Mill Creek Church pierce skin, soul
85 - Middleton says Huskies "plan on scoring at least 50 points'' Saturday
82 - Jerry Brewer: Seahawks can't lean on the Hutch Crutch now
74 - Seattle woman charged with knife attack on boyfriend's ex
70 - UW, WSU once again meet to see who's worse
68
- Sprouts, raw fish on attorney's 'do not eat' list
- Tattoos at Mill Creek church pierce skin, soul
- Food-safety lawyer's wish: Put me out of business
- Illegal workers quietly let go
- Architects, chefs find 'kid' within to build Gingerbread Village
- Rediscovering Moab, 'the most beautiful place on Earth'
- It's possible to recover a life lost to hoarding
- Child-support error costs nearly $21,000
- 'The Road' takes Viggo Mortensen to Mount St. Helens and Astoria, Ore.
- Taste | The Great Pie Bake-off pits friends and fruit

