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SEATTLE-Fisher Communications Inc., wanting to focus exclusively on its broadcasting and media business, says it intends to sell several real estate assets held by its subsidiary, Fisher Properties Inc. Fisher’s share price was off 3.3% in morning trading Wednesday at $43.36. The stock’s 52-week range is $39-$74.

Properties expected to be included in the sale are Fisher Business Center (Lynnwood, WA), West Lake Union Center (Seattle), Fisher Industrial Park (Kent, WA), Fisher Commerce Center (Kent, WA), and Fisher Industrial Technology Center (Auburn, WA).

Fisher Plaza, the company’s digital hub and communications community, will not be included in the sale. The building provides state-of-the-art infrastructure for Fisher’s communications and media enterprises. The first phase of the facility was completed in mid-2000, and currently houses a variety of complementary information technology providers and related ventures, as well as Fisher-owned KOMO TV and media businesses. The second phase, which involves an adjacent 100,000 square foot high tech facility, is scheduled for completion in 2002.

Fisher Communications President and CEO William W. Krippaehne Jr says “this proposed transaction is part of the ongoing restructuring of Fisher that includes a new company name reflecting our concentration on communications and media, the recent sale of the flour milling and food distribution businesses, a major reduction in expenses for 2002, and substantial changes in organizational structure.

Fisher Communications owns 12 network-affiliated television stations located in the Northwest and Southeast, and 26 radio stations broadcast in Washington, Oregon, and Montana. Other media operations include Fisher Entertainment, a program production and distribution business, as well as Fisher Pathways, a satellite and fiber transmission provider.

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