Fisher Communications investor Gabelli to suggest monetizing an asset at annual meeting

By Lisa Kerner

Charlotte, N.C., April 18 - Shareholder Mario Gabelli, affiliated with Gabelli Funds, LLC and Gamco Investors, Inc., sent a letter to Fisher Communications, Inc. president and chief executive officer Colleen B. Brown suggesting that the company's board focus on monetizing Fisher's Safeco Corp. holdings.

Specifically, Gabelli would like to see a material reduction in the shares outstanding and plans to make his position heard at the annual meeting, according to a schedule 13D filing with the Securities and Exchange Commission.

The reporting persons beneficially own 1,432,796 shares, or 16.43%, of the company's outstanding stock.

Seattle-based Fisher Communications owns television and radio stations.

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