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- Missoulian, Friday, June 2, Radio Continued said, and has steered the company away from radio and deeper into television. In fact, Bateman said, proceeds from the sale of the two dozen radio stations will help fund Fisher's entrance into Hispanic television, particularly near Portland, Ore. "We think there's an opportunity there, in the Northwest in particular, where the Hispanic population growth rate has been very strong," Bateman said. "It is an underserved portion of the population." Also, Fisher likes consolidating its holdings, and already owns an ABC affiliate in Portland. (Cherry Creek likes consolidation, too. "It's no different from Starbucks wanting to open another store just down the road," Schwartz said.) Television, it would seem, looms large in the new Fisher future. "Colleen Brown has made it clear that small-market radio isn't Fisher's place," Patrick said. Most of the company's 2006 FROM PAGE A5 Stations affected The 24 stations, currently Billings owned by Fisher KRKX, 94.1 FM, rock Communications, are under KBLG, 910 AM, talk contract for sale to KYYA, 93.3 FM, top 40 Colorado-based Cherry KRZN, 96.3 FM, new rock Creek Radio. All but five are on the air in Montana's Great Falls urban markets. KAAK, 98.9 FM, top 40 KXGF, 1400 AM, classic Missoula rock KZOQ, 100.1 FM, classic KQDI, 106.1 FM, classic rock rock KGGL, 93.3 FM, country KQDI-A, 1450 AM, talk KXDR, 98.7 FM, top 40 KIKF, 104.9 FM, country KGRZ, 1450 AM, sports talk KINX, 107.3 FM, active rock KYLT, 1340 AM, talk KBQQ, 106.7 FM, oldies Wenatchee, Wash. KYSN, 97.7 FM, country Butte KZPH, 106.7 FM, rock KMBR, 95.5 FM, rock KAAP, 99.5 FM, soft rock KAAR, 92.5 FM, country KWWW, 96.7 FM, rock KXTL, 1370 AM, oldies KWWX, 1340 AM, Hispanic revenue, and most of its acquisition interest, is now squarely in TV. Still, Bateman insists radio remains a part of the portfolio at Fisher. The company is not selling its remaining three radio stations, located near corporate headquarters in Seattle. They the 24 stations, he said, but will soon have to sell keep 19 of in Great Falls because of five federal rules limiting the number of stations one company can own in a given market. Until 1996, a company could only one FM and one AM own station in any single community. Now, relaxed regulations mean a company can own as many as eight, depending upon the size of the market. In Montana's larger towns, six is the limit. "But operating radio stations is our business," Schwartz said. "We are in no way looking to exit. We expect to be here for a long, long time." Reporter Michael Jamison can be reached at 1-800-366-7186 or at mjamison@missoulian.com. 24 stations, he Yet all agree that Schwartz is far more focused on smallmarket radio than is Fisher, "much more agile, without the cumbersome corporate structure pinning him down," Patrick said. "This is a perfect fit for him." Cherry Creek likely won't change much, he said, likely won't shuffle the programming or fire a bunch of people. Instead, he said, Cherry Creek is far more likely to begin paying the stations the kind of attention they could never receive as a small cog in Fisher's big machine. "Small radio had no compelling champion at Fisher corporate," Patrick said. "They were fairly insignificant in the grand scheme of things. Put simply, Fisher has bigger fish to fry than those tiny radio stations in Missoula." Under Schwartz, he predicted, the stations will fare far better. They likely will , become ever more "local," tapping hard into the community with events and sponsorships, promoting themselves as well as investing in themselves. "For Cherry Creek," he said, have TV there, of course, and Fisher likes what Bateman calls the "synergy" of owning both TV and radio in the same market. Besides, last year the three Seattle radio stations made up 75 percent of the revenue in Fisher's 27-station portfolio. "these stations are enormously important, a big part of the basic business." And business like that, he said, will invest in talent rather than slice and cut to appease every shareholder and quarterly bottom line. "What you're not going to see is someone sucking money out of it and shipping the profits off to Seattle," Patrick said. "I think this is going to be good for everyone involved." Schwartz sure hopes so. He expects the deal to seal sometime in September, assuming regulators at the Federal Communications Commission give it the green light. He could take over as soon as July, though, if a shortterm lease agreement can be hammered out. Cherry Creek intends to DAYSPRING IS DAYSPRING restoration 911 FOR YOUR HOME FLOOR CLEANING & RESTORATION 543-6070 www.dayspringrestoration.com
Article from 02 Jun 2006The Missoulian(Missoula, MT)
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