Insurance sale assures TV buy

0

Fisher Communications peddled 23.3% of its share of Safeco Insurance stock, raising cash to go towards its acquisition of KBAK-TV Bakersfield (CBS/29) anh related low power television stations from Westwind Communications LLC. The sale of stock reaped 40.6M toward the 55M purchase price associated with the Bakersfield properties. The deal is expected to close next month.