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Monday, November 7, 2011

Fisher Communications' Q3: Radio down 14%, but there was a reason

fisher communications Since last year, Fisher ended its Joint Sales Agreement with classical KING-FM (98.1), with that station converting to non-commercial status. That affected the topline, with radio revenue falling 14% to $5.3 million. Cash flow from radio, which is now almost exclusively the Seattle cluster, dropped from about $2 million to $1.5 million. Fisher Radio's cash-flow margin was also affected, down from 32% to 28%. Elsewhere at Seattle-based Fisher, the company says the ratings continue to be strong at stations like hot AC KPLZ (101.5), especially in mornings with 25-54s. On the TV side, Fisher's getting more money from "re-trans", for retransmission consent. And excluding last year's political dollars, what Fisher calls its TV core advertising revenue grew 9% to $22.8 million. Fisher President and CEO Colleen Brown says, "Our solid third quarter performance demonstrates the continued strength of our market-leading broadcast properties and the growing popularity of our digital platform." See the effect of today's release of quarterly results is having on the Fisher stock ("FSCI") here.

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