[Seattle-editorial] FEATURE PROPOSAL: Fisher

[jonathan lawson]

subtitle: LOCAL MEDIA OWNERSHIP UNDER THREAT IN SEATTLE
title: On Eve of Deregulation, Fisher May Seek Corporate Buyout

Seattle-based media owner Fisher Communications announced last week that it 
has hired Goldman Sachs to review <a 
href="http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=FSCI&script=410&layout=7&item_id=354723">"strategic 
alternatives"</a> after a dismal third-quarter financial report. Industry 
observers quickly interpreted the announcement as an indication that Fisher 
may be seeking a corporate buyout--perhaps by radio giants Clear Channel, 
Entercom, or the Hearst Corporation. Fisher's <a 
href="http://seattle.indymedia.org/ownership.php3">Seattle holdings</a> 
include KOMO-4, "Star 101.5" FM and right-wing squawker KVI-AM. The company 
owns 11 more TV and 26 more radio stations.

<p>Under existing FCC regulations protecting media diversity, neither 
Entercom nor Hearst could legally buy Fisher without immediately selling 
off other Seattle properties (Hearst owns the Post-Intelligencer). However, 
Fisher and prospective buyers may be anticipating <a 
href="http://seattle.indymedia.org/front.php3?article_id=19443"> dramatic 
deregulation of existing ownership rules</a> which may follow a "review" 
currently underway at the FCC.

<p>Diversity of perspectives in the corporate media is scarce enough 
already; more industry consolidation will only make matters worse. The FCC 
is accepting public comments on the ownership rules through Jan. 2 (reply 
comments through Feb. 2). File your comments online <a 
href="http://www.democraticmedia.org/getinvolved/ownershipAction_FCCFiling.html">here</a>, 
or see <a href="http://www.reclaimthemedia.org">Reclaim the Media</a> for 
more information.