TV Station Owner Rejects Canadian Acquisition Offer

Jan 4, 2011  •  Post A Comment

A $211 million takeover offer from Canadian real estate company Huntingdon Real Estate Investment Trust, which wants to buy Seattle station KOMO-TV, was spurned by the station’s owner, Fisher Communications, the Puget Sound Business Journal reported.

The offer represented an 18% premium above Fisher’s Dec. 3 stock price and was presented to Fisher’s board in a Dec. 6 letter, the story notes. Huntingdon officials described themselves as "astonished" that the board rejected the offer four days later.

Huntingdon said it decided to go public with the buyout offer "“so that Fisher shareholders can make their own assessment of the sufficiency of our proposal," the story notes. Fisher owns more than a dozen television stations in the Northwest, as well as the Fisher Plaza building near the Seattle Center.

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