Fisher Transfers Property Management Business
SEATTLE--(BUSINESS WIRE)--Dec. 19, 2003--Fisher Communications (Nasdaq:FSCI) today announced that it has transferred its property management business, formerly conducted by its subsidiary Fisher Properties Inc., to Egis Real Estate Services, L.L.C. The new private company, formed by substantially all the former Fisher Properties management team, will offer full commercial real estate services. Fisher has no ownership interest in the new enterprise.
With the completion of this transaction, Fisher will no longer be actively engaged in the real estate development and property management business, with the exception of the ownership of Fisher Plaza, its digital communications hub located in Seattle. Egis will provide day-to-day property management services to Fisher Plaza.
Fisher Communications, Inc. is a Seattle-based communications and media company focused on creating, aggregating, and distributing information and entertainment to a broad range of audiences. Its 10 network-affiliated television stations are located in Washington, Oregon, and Idaho, and its 27 radio stations broadcast in Washington and Montana. Other media operations currently include Fisher Pathways, a satellite and fiber transmission provider, and Fisher Plaza.
CONTACT: Fisher Communications, Inc.
William W. Krippaehne Jr.,