Challenging quarter for Fisher’s Seattle radio stations


ChartFisher Communications as a whole increased its revenue during the first quarter of 2013, but that was not the case for its radio division, which includes four stations in only one market.

The company as a whole lost $800K as a whole, which translates to $0.09 per share, which compared favorably to a $1.9M $0.21 per share loss the prior year. And both net revenue and adjusted EBITDA were up. The television side of the business also improved.

However, the picture wasn’t as bright on the radio side, where a soft advertising market was blamed for a 9% loss in net revenue to $4.3M.

Cash flow also took a hit, decreasing $220K to $650K, and the cash flow margin fell to 15% from 18%.

The company has three owned stations and an operating agreement with a fourth in the Seattle-Tacoma market.

The group is party to a merger agreement with Sinclair Broadcast Group, with Sinclair the surviving entity. Early indications are that SBG will retain the radio stations, even though they will be the only ones in its portfolio when the Fisher deal closes.