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Friday, August 7, 2009

It's a 30% drop in revenue for Fisher Communications in their latest quarterly report

Much like their competitors, Seattle-based Fisher Communications dealt with a double-digit decrease in revenue for their second quarter. Overall revenues plunged 30 percent to $32 million, down from $46 million in 2008 – but radio revenue was down 49% from the same time last year. One reason for the revenue drop was the loss of radio rights to the Seattle Mariners to Bonneville-owned rival KIRO (710/97.3). That deal was widely believed to be a money-loser for Fisher. Its President & CEO Colleen Brown says “We believe we are seeing signs that the worst may be behind us.”

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