Fisher Shareholders Approve Sale To Sinclair
Fisher Communications Inc. today announced that its shareholders have approved Sinclair Broadcast Group Inc.'s purchase of Fisher.
Under the terms of the merger agreement, upon the consummation of the merger, Fisher shareholders will receive $41.00 in cash for each share of Fisher common stock they own.
More than 90% of the votes represented and cast at the special meeting of Fisher's shareholders, or approximately 77% of the total outstanding shares of common stock eligible to vote as of the June 14, 2013 record date, were voted in favor of the approval of the merger agreement, the company said.
Shareholders also approved the non-binding advisory proposal regarding merger-related compensation with a vote of more than 90% of the votes represented and cast at the meeting. The completion of the merger remains subject to certain customary closing conditions, including the receipt of certain regulatory approvals.