Both revenue and cash flow were affected by #1, the re-formatting of Seattle's KVI (570) from conservative talk to oldies, and #2, "the wind-down of the KING-FM Joint Sales Agreement", which is expiring now. Seattle-based Fisher Communications had been handling the ad sales of commercial-classical KING-FM (98.1), which just converted to non-commercial status. Almost all of Fisher's radio assets are in Seattle, and it says radio net revenue slipped 1% to $5.2 million, while radio cash flow dropped $52,000 to $304,000. The radio cash flow margin, a particular target of analysts and outside investor FrontFour Capital, declined from 6.8% to 5.8%. Across all its divisions (radio, TV, Fisher Plaza real estate), Fisher Communications reports revenue growing 7.3%. The company credits TV revenue, retransmission fees from TV, and Internet revenues. Fisher faces a shareholder meeting later this week, with FrontFour trying to place four of its own nominees on the board of directors.