Just a few days ago we noted that veteran media investor Daniel Tisch has been accumulating shares of Fisher Communications. It appears he’s not taking an end-of-year break from the market, since he’s added to that stake yet again.
On December 28th Tisch’s Towerview LLC bought an additional 900 shares of Fisher stock for $28.50 each. That took his total stake to 912,919 shares. At that same price, the total investment was worth just over $26 million.
According to Nasdaq Towerview had positions in 31 public companies as of the end of Q3. In addition to the media holdings (Fisher, Saga and Emmis) Tisch also had multiple holdings in real estate companies, some tech investments (including Loral, ITT and Cisco), and some traditional manufacturing (such as Corning, Steinway Musical Instruments and Bassett Furniture). And then there’s RealNetworks, which is sort of a tech play on media.
RBR-TVBR observation: Daniel Tisch isn’t a flashy investor and tends to avoid the public spotlight. He’s interesting for his determination to find sectors that are often out of fashion and buy into companies with deep value that’s not recognized by the market. He doesn’t always win, but seems to have a pretty good track record.