And one of those options is the possible sale of the company. The main goal is to enhance shareholder value, however, and no particular strategic alternative has more weight than another. But the possible sale of the company is one specific possibility that the company mentioned.
Moelis & Company is one hand to proffer financial advice and two law firms are on hand to provide legal counsel: White & Case LLP and Perkins Coie LLP.
“The Company has not made a decision to pursue any specific strategic transaction or any other strategic alternative, and there is no set timetable for the strategic review process,” said Fisher in a statement. “There can be no assurance that the exploration of strategic alternatives will result in the consummation of any transaction. The Company does not intend to comment further regarding the evaluation of strategic alternatives until such time as the Board has determined the outcome of the process or otherwise has deemed that disclosure is appropriate.”
One concrete result of the initiative is to delay this year’s annual shareholders meeting, which will be called into session no earlier than 6/9/13.
Fisher owns two AMs and two FMs in Seattle WA, including News tandem KOMO AM-FM, Hot AC KPLZ-FM and Talk KVI-AM.
The company’s larger focus is on the television side. It has 13 full power stations and seven LPTVs serving seven markets, mainly in the Pacific Northwest.
The crown jewels are ABC/Univision duopolies in Seattle WA and Portland OR. It also has stations in Bakersfield CA, Boise ID, Idaho Falls-Pocatello ID, Eugene OR, Yakima/Tri-Cities WA and Spokane WA (licensed across the state line in Lewiston ID),