Fisher-to-Sinclair 'Sad End of Local TV Ownership in Seattle'
The Seattle Times is lamenting yesterday’s report of Fisher Communications finding a buyer for its TV and radio stations in Sinclair. The paper reiterated an editorial penned when Fisher announced its intent to sell earlier in the year.
It wrote:
“Media concentration in the nation’s top markets is a threat to independent ownership and to opportunities for minorities and women, from the boardroom to the newsroom. Diverse ownership of the media, competitive journalism and a broad spectrum of opinion and analysis are vital for a robust democracy.”
Here’s the original editorial in the Times.
Baltimore-based Sinclair won the Fisher group, which includes KOMO Seattle, with a $373.3 million bid. The deal is subject to regulatory approval.
Colleen Brown, president and CEO of Fisher, noted Sinclair’s”independence.”
She said:
“Sinclair is the largest independent TV broadcaster in the country, and we believe its commitment to the industry along with its greater scale and sizable resources will provide our stations, team members and business partners with new opportunities to flourish.”
Eric commented:
Sinclair has been in a TV station buying spree for the last 2 years. The Baltimore-based company scooping up stations from Freedom, then from Four Points, then a few from Newport, and from Barrington. Fisher group appears to be the latest buy-ups. Local TV recently put its stations group on the block... and there have been rumors and rumblings of Tribune unloading several of its stations... it's unclear what will eventually become of those stations. There could be concerns and worries of Sinclair getting them.