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8-K - LIVE FILING - FISHER COMMUNICATIONS INC | htm_46042.htm |
Exhibit 99.1
Fisher Communications Provides Update on $10.00 per Share Special Dividend
Seattle, WA September 19, 2012 Fisher Communications, Inc. (NASDAQ: FSCI), a leader in local media innovation, today issued the following update on the one-time special cash dividend of $10.00 per share approved by the Companys Board of Directors, which was announced on August 27, 2012 (the Special Dividend):
For special dividends representing 25% or more of the value of the underlying security, NASDAQs rules require the ex-dividend date to be one business day after the payment date. As the payment date for the Special Dividend is October 19, 2012, NASDAQ has set Monday, October 22, 2012 as the ex-dividend date for the Special Dividend. In addition, the Company understands that trades of the Companys common stock entered into before October 22, 2012 and settled after the September 28, 2012 record date (the due bill period) will have a due bill attached for the Special Dividend. This means that persons who purchase these securities during the due bill period (even if the trade will settle after the due bill period) are entitled to receive the Special Dividend, and persons who sell the securities during the due bill period (even if the trade will settle after the due bill period) are not entitled to the Special Dividend. Investors who enter into trades to purchase shares of the Companys common stock on or after October 22, 2012 will not be entitled to the Special Dividend.
Due bills obligate sellers to deliver the dividend to the buyer. The due bill obligations are settled customarily between the brokers representing the buyers and sellers of the stock. The Company has no obligations for either the amount of the due bill or the processing of the due bill.
About Fisher Communications
Fisher Communications (FSCI) is an innovative local media company with television, radio, internet
and mobile operations throughout the western United States. Fisher owns or operates 13 full power
and seven low power television stations, which include network affiliations with ABC, CBS, FOX,
Univision and The CW that reach 3.5% of U.S. television households, and three radio stations
targeting a full range of audience demographics. Fisher Interactive produces more than 120 local
and hyper-local websites and delivers comprehensive multiplatform advertising solutions to local
businesses. The Company is headquartered at Fisher Plaza in Seattle, WA. More information about
Fisher Communications, Inc. is available at www.fsci.com.
Forward-Looking Statements
This news release includes forward-looking statements. We have based these forward-looking
statements on our current expectations and projections about future events. Forward-looking
statements include information preceded by, followed by, or that includes the words guidance,
believes, expects, intends, anticipates, could, or similar expressions. For these
statements, the Company claims the protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995. The forward-looking statements
contained in this news release involve risks and uncertainties and are subject to change based on
various important factors, including the impact of changes in national and regional economies, the
competitiveness of political races and voter initiatives, successful integration of acquired
television stations (including achievement of synergies and cost reductions), pricing fluctuations
in local and national advertising, future regulatory actions and conditions in the television
stations operating areas, competition from others in the broadcast television markets served by
the Company, volatility in programming costs, the effects of governmental regulation of
broadcasting, industry consolidation, technological developments and major world news events.
Unless required by law, we undertake no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise. In light of these
risks, uncertainties and assumptions, the forward-looking events discussed in this news release
might not occur. You should not place undue reliance on these forward-looking statements, which
speak only as of the date of this release. For more details on factors that could affect these
expectations, please see the risk factors in our Annual Report on Form 10-K for the year ended
December 31, 2011, which we have filed with the Securities and Exchange Commission.
Media Contacts
Sard Verbinnen & Co
Ron Low or David Isaacs
(415) 618-8750