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Thursday, March 11, 2010

Revenues fall 19% at Fisher Communications, but radio revenues drop just 8%

The final quarter for Seattle-based Fisher saw an overall revenue drop of 19%, from $47.7 million to $38.6 million. However, that loss was largely due to lower political advertising compared to late-2008. While TV revenue plunged 23% in the fourth quarter, radio dropped just 8%, from $6.6 million to $6.1 million. For all of 2009, Fisher’s overall revenues were down 23% for the year, and radio plummeted 38%, mostly related to the loss of broadcast rights to the baseball Seattle Mariners. That also reduced Fisher’s expenses. A bright spot for Fisher’s bottom line was that operating expenses dropped 43% in 2009. Fisher President/CEO Colleen Brown says, “2009 financial results were severely impacted by the worst economy since World War II … we aggressively managed our expenses while increasing total revenue share in our radio and TV markets.”

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