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In a big test of the value of broadcast stations in a bitter financial market, Seattle-- based Fisher Communications signaled last week that its 12 TV stations and 29 radio stations are up for sale. Analysts peg the value of those assets at between $800 million and $1 billion.
The company confirmed last week that it has hired investment banker Goldman Sachs to "assist in reviewing its strategic alternatives." Translation: Goldman will seek out buyers willing to meet Fisher's price.
Beyond the confirmation, Fisher executives were not available to discuss the sale or company finances.
Sources say the company has put out feelers over the past six months but hasn't received any offers at prices it felt were high enough. And it may be that Fisher's stations will be sold piecemeal to multiple buyers.
There was speculation last week that ABC would be interested in acquiring Fisher's two biggest stations, ABC affiliates KOMO-TV Seattle and KATU(TV) Portland, Ore., although it's not clear that the network and Fisher could come to terms...