Facing a hostile bid to take control of its board of directors, Fisher Communications has announced its own slate of candidates for election at the upcoming annual shareholders meeting. RBR-TVBR readers will certainly recognize the newest name to be nominated.
Fisher announced Tuesday (3/8) that it is nominating Roger Ogden, pictured, retired President and CEO of Gannett’s Television division, as one of four candidates for election to the board. He joins current directors Michael Wortsman, Richard Hawley and Anthony Cassara on the slate backed by the current board and management.
Cassara, former President of the Paramount Pictures Television Stations Group, was appointed to fill a vacant seat on the board just last month.
“We are pleased to be able to nominate four very qualified, independent directors, whose collective skills include significant broadcasting and financial expertise. Their proven experience will be a tremendous asset to the Company as we pursue our strategic goals and work to deliver enhanced shareholder value,” said Paul Bible, Chair of Fisher’s Nominating and Corporate Governance Committee.
In addition to his more than 35 years of broadcasting experience, Ogden currently sits on the board of directors of E.W. Scripps Company and is Chairman of the Board of Directors of Chyron Corporation.
Fisher also announced that William W. Warren, Jr. has decided to retire from the Board and not stand for re-election when his term expires at the 2011 Annual Meeting. As previously announced, George F. Warren, Jr. will also retire from the board as of the 2011 Annual Meeting. Both are members of the founding Fisher family. One seat will not be filled and the size of the board will shrink from 10 to nine members. The date of the 2011 shareholders meeting has not yet been set.
RBR-TVBR observation: Annual shareholders meetings are normally pretty boring. This one promises to be otherwise. As we noted previously, the man holding the key to what happens is Mario Gabelli. When he last spoke on the matter he was willing to put Fisher up for sale – but only at a good price.