Fisher Communications Mulls Possible Sale
Media company Fisher Communications today announced that its board of directors has decided “to explore and evaluate potential strategic alternatives intended to enhance shareholder value, which could result in, among other things, a possible sale of the Company.”
The company has retained Moelis & Company as its financial advisor and White & Case LLP and Perkins Coie LLP as its legal counsel.
Fisher has not made a decision to pursue any specific strategic transaction or any other strategic alternative, and there is no set timetable for the strategic review process, the company said. “There can be no assurance that the exploration of strategic alternatives will result in the consummation of any transaction. The company does not intend to comment further regarding the evaluation of strategic alternatives until such time as the board has determined the outcome of the process or otherwise has deemed that disclosure is appropriate,” the company said in a statement.
Fisher will delay its 2013 annual shareholders meeting to at least June 9 while it explores and evaluates strategic alternatives.