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
New laws help tenants evicted due to foreclosure
Researchers stunned by inmates' success raising endangered frogs
Seattle may allow homeowners to build backyard cottages
Federal Way group on trail of missing pets
UPDATE - 11:16 AM
Climber who died in fall was Duvall woman

2009 fireworks time lapse
With strict parking rules enforced at this year's July 4th celebration on Wallingford Ave North, less cars and more spectators filled the streets.
Entertainment | Top Video | World | Offbeat Video | Sci-Tech
nwjobs

Post a comment

Michelle Goodman blogs about work/life balance.
Tax tips for new independent professionals
Post a comment
nwautos

Choosing a new sports car/coupe? Weigh the impact of your choice on your wallet and on the planet.
Post a comment
nwhomes

Find a new home or condo that fits your lifestyle.
Search New Developments
Builder Directory
- Seattle may allow homeowners to build backyard cottages
- Landmark Smith Tower mostly vacant
- Relative: Police say woman with McNair bought gun
- Property taxes: Appeals shoot up in King, Snohomish Counties
- Mariners Blog | What the Seattle Mariners learned on their road trip
- Palin links resignation to 'higher calling' and blasts media in Facebook posting
- Former NFL MVP McNair killed
- Hard times for tourist towns means good deals for travelers
- Tukwila residents rally against light-rail noise
- Brier Dudley | Brier Dudley | Learning hard lessons from Boeing giveaways
- Palin links resignation to 'higher calling' and blasts media in Facebook posting
211 - Tukwila residents rally against light-rail noise
140 - Tent City on campus: UW stalls decision
115 - What Mariners learned on this road trip
114 - Seattle may allow homeowners to build backyard cottages
86 - FBI denounces rumors: Palin not investigated
78 - Bicyclist fatally hit by SUV outside Bremerton
57 - 2 wounded in Central District drive-by shooting
57 - Bellevue ordinance would fine retailers for not collecting runaway shopping carts
56 - Mariners did their part, now they need help
51
- Property taxes: Appeals shoot up in King, Snohomish Counties
- Seattle may allow homeowners to build backyard cottages
- Researchers stunned by inmates' success raising endangered frogs
- Hard times for tourist towns means good deals for travelers
- Landmark Smith Tower mostly vacant
- 250 gather in field near Twisp for fairy congress
- New laws help tenants evicted due to foreclosure
- Plasma and LCD beware; OLED screens ready to go mainstream
- The People's Pharmacy | Estrogen mimicker found in sunscreen
- Seattle safety project: A snake shelter on Beacon Hill





