Fisher Fourth Quarter Revenue Up 23%

Political spurs results, while core advertising was down

By Michael Malone -- Broadcasting & Cable, 3/1/2013 9:53:51 AM

Fisher Communications reported fourth-quarter TV net revenue of $46.7 million, up 23% over the same period the year before. Political advertising drove the growth. Excluding political, TV revenue was down 2%. Retransmission consent revenue increased 81% to $6.1 million. Fisher's TV cash flow increased 55% to $20.7 million.

Colleen Brown, Fisher president and CEO, said she was pleased with the fourth quarter results. "For the seventh consecutive year, Fisher broadcast stations grew core market revenue share reflecting the quality and value of our local brands, and validating the strength and execution of our strategic plan," she said. "As we begin 2013, we remain focused on building on our momentum and creating value for our shareholders."

Overall company revenues were $52.1 million, up 12% from $46.4 million. Radio net revenue was relatively flat at $5.5 million.

Seattle-based Fisher owns 13 full power and seven low power television stations and three radio stations.

Earlier this year, Fisher tapped Moelis & Co. to help it "explore and evaluate potential strategic alternatives intended to enhance shareholder value, which could result in, among other things, a possible sale of the company."