Fisher Picks Up The CW

Network added to secondary DTV assignments in two markets 
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Seattle-based Fisher Communications signed agreements to carry The CW network in two markets. The Fisher-owned CBS affiliates serving Yakima, Wash., and the neighboring Tri-Cities of Pasco, Richland and Kennewick will add The CW to their secondary digital feeds. KIMA-TV in Yakima will carry the network on KIMA-DT2; and KEPR-TV, satellite of KIMA, will likewise carry The CW on KEPR-DT2. The CW line-up includes “Gossip Girl,” “90210,” and “Smallville,” among others, and Fisher plans to add local morning and late news produced by the stations.

Fisher (NASDAQ: FSCI) owns and operates 13 full- and seven low-power TV stations. Shares of Fisher are generally following the TVB.comTV Station Group Index, though the company made a heftier rebound this week over last (11 percent) than the overall index (7 percent). FSCI shares are also holding in the mid-teens while many similarly sized media businesses are trading at $2 or less. Fisher posted net income of nearly $29.8 million for the third quarter of 2008 on revenues of nearly $42 million. It posted assets totaling $427 million versus liabilities of $214.5 million, with cash on hand at around $19 million. The company hasn’t yet posted 4Q or 2008 full-year results.