On the cusp of Sinclair Broadcast Group acquiring Fisher
Communications Inc. (
) for around $373 million (valued at $41 per share), remember
when Mario Gabelli said FSCI was worth $40 when he bought it for
Interviewed by Reuters, Gabelli said, "This is a major
opportunity for Sinclair to move into two top-25 markets."
Gabelli has a 26.75% stake in Fisher Communications and is the
company's largest shareholder. The acquisition will expand
Sinclair's reach in the western U.S., reaching more than a third
of U.S. households. Sinclair Broadcast Group's CEO David Smith
said, "We are excited to acquire Fisher and expand our coverage
westward, especially in the two key markets of Seattle and
As of April 11, 2013,
, GAMCO Investors' chairman and CEO, increased his position 0.47%
with the TV, radio and Internet media company after a string of
four reductions so far this year. As of his most recent trade at
an average price of $41.09, Gabelli holds 1,852,94,4 shares. The
current share price is $41.15, with a 0% change from average.
Fisher Communications is up 27% over the last 12 months. The
company has a market cap of $361.2 million, with a P/E ratio of
27.5, a P/B ratio of 2.9 and a P/S of 2.17.
Gabelli is still the largest stakeholder in Fisher
Communications, the media company that owns and operates over 13
full-power and seven low-power television stations in eight
markets, and three radio stations. Its television and radio
stations are located in Washington, Oregon, Idaho, California and
Montana, conducting operations through two subsidiaries, Fisher
Broadcasting Company and Fisher Media Services Company. Its
online division network, Fisher Interactive, has 120 online
sites. The company also owns and operates Fisher Plaza in
Comparing three of
's broadcasting picks, all are up over the last 12 months: Fisher
) up 27%, Cablevision Systems Corp. (
) up 9% and DirecTV (
) up 13% over the last 12 months.
Gabelli's Holding History:
Here's a look at Gabelli's pay television holdings.
Gabelli's Holding History with Cablevision Systems Corp. (
), up 9% over the last 12 months:
Gabelli's Holding History with DirecTV (
), up 13% over the last 12 months:
Gabelli is considered a living legend investor. He is founder of
GAMCO Investors Inc., a well-known diversified asset manager and
financial services company. In a recent update, the GAMCO
portfolio lists 792 stocks valued at $13.6 billion, with a
quarter-over-quarter turnover of 6%.
Here's a detailed analysis of GAMCO Investors (
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