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Wednesday, May 4, 2011

Fisher's biggest shareholder will vote "No" to the company slate

fisher communications Seattle-based Fisher Communications now finds itself at odds with the company's biggest single shareholder in their fight against a board takeover with FrontFour Capital. Investor Mario Gabelli, who holds over 28% of all Fisher stock, announced he will exercise his collective voting rights and back three of the four nominees proposed by FrontFour, which is looking to gain control of Fisher, possibly to force the sale of some or all of the company. Both FrontFour founder David Lorber and now Gabelli are critical of the leadership of Fisher's current board and CEO Colleen Brown. Fisher operates a number of TV stations, along with eight radio stations in Washington and Montana, including Seattle's news/talk KOMO-AM/FM (1000/97.7). The company's board of directors is up for election next week.

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