Fisher Television Revenue Down 19%

Lack of political means negative number for TV segment in fourth quarter

Fisher Communications reported fourth quarter television revenue of $38 million, down almost 19% from the same quarter in 2010. Excluding political revenue from the equation, TV revenue grew 9% in the quarter. Fisher benefited from "significant increases" in the automotive and professional services ad categories.

"We are very pleased with how our core broadcasting business and digital portfolio performed in 2011, especially the strong results we delivered in the fourth quarter," said Colleen Brown, Fisher president and CEO. "The momentum we have built - combined with the successful execution of our strategy - has enabled us to consistently take valuable ratings and revenue share in our markets.

Fisher showed a 44% gain in Internet revenue and a 14% gain in retransmission revenue for the quarter.

Brown said the company remains committed to its multiplatform approach, involving TV, radio and digital, in 2012.

Radio segment revenue was $5.48 million, down from $6.7 million in the previous fourth quarter.

Fisher's total consolidated revenue, which includes Fisher Plaza, was $46.4 million in the fourth quarter, down 19% from the fourth quarter of 2010.

In the fourth quarter, Fisher completed the sale of Fisher Plaza in Seattle, for gross proceeds of $160 million and recorded a pre-tax gain of $40.5 million.

For fiscal 2011, Fisher reported consolidated revenue of $164.0 million, a 6% decrease from 2010, due to the decline in political revenue on TV.