Exhibit 99.1
MEDIA RELEASE

Fisher Communications, Inc. Reports Second Quarter 2011 Financial Results

Net Television Revenue, Excluding Political, Increased 4%; EBITDA Increased 27%

SEATTLE, WA – (MARKETWIRE) – July 28, 2011 – Fisher Communications, Inc. (NASDAQ: FSCI) today reported its financial results for the second quarter ended June 30, 2011. Fisher’s second quarter net television revenue, excluding political revenue, increased 4% over the same period last year. Fisher’s total consolidated revenue for the quarter, which includes Fisher Plaza, was $40.4 million, equal to the second quarter of 2010. Increases in TV core advertising, retransmission revenue and internet revenue offset the expected decrease in political revenue. During the quarter, internet revenue increased 66% to $1.4 million and TV core revenue increased 3%.

The Company reported net income of $3.6 million in the quarter, compared to $328,000 in the second quarter of 2010. The quarter’s net income included a $4.1 million pre-tax gain on the sale of non-essential real estate in Seattle. The 2010 results included a pre-tax gain on the exchange of broadcast equipment of $0.8 million and a $0.3 million gain from net insurance reimbursements relating to the 2009 Fisher Plaza fire insurance claim. Earnings per share were $0.41, compared to $0.04 for the second quarter of 2010.

Direct operating costs and selling, general and administrative expenses for the quarter decreased $1.2 million, or 4%, from the second quarter of 2010.

The decrease in operating costs for the second quarter included $0.8 million of additional costs related to the proxy contest conducted by FrontFour Capital Group in connection with the Company’s 2011 Annual Meeting of Shareholders. This cost was fully offset by a $1.1 million credit resulting from the Company’s revised employee vacation policy that was announced in 2010 and became effective January 1, 2011. In addition, the Company had $0.5 million in compensation cost savings and $0.3 million in Local Marketing Agreement fee savings related to the wind down of the Company’s KING-FM Joint Sales Agreement, which expired in the second quarter. During the first half of 2011, the Company incurred $1.6 million of costs related to the proxy contest.

Excluding the impact of proxy contest costs, ongoing operating costs would have decreased by 6%, or $2.0 million, compared to the second quarter of 2010.

EBITDA increased $1.5 million, or 27%, to $6.9 million in the second quarter of 2011.

Fisher President and Chief Executive Officer Colleen B. Brown commented, “Fisher performed well in the second quarter, with a steady increase in net television revenue and robust EBITDA growth. The Company’s results reflect our broadcast properties’ increasing popularity and growth from our digital platform, combined with our on-going multiplatform success. Through the successful execution of our strategic plan, we have increased station market share, developed innovative digital distribution channels to better serve an increasingly mobile audience, strengthened our brand and deepened our community ties, all of which enables Fisher to capture a larger share of the local advertising spend.”

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Financial Highlights for the Second Quarter of 2011

(All comparisons are made to the second quarter of 2010 unless otherwise noted.)

Television:

Radio:

Plaza:

Balance Sheet:

Key Operating and Strategic Highlights

Second Quarter Conference Call

Fisher will host a conference call today at 1:00 p.m. (PDT). Senior management will discuss the financial results and host a question and answer session. The dial-in number for the audio conference call is 1-866-203-2528; confirmation code 22814503. A live audio webcast of the call will be accessible to the public on Fisher’s Web site, www.fsci.com. A recording of the webcast will subsequently be archived on the Web site and available for replay for one week following the call. An audio replay of the call can be accessed for one week by dialing 1-888-286-8010 and entering confirmation code 89436540.

Definitions and Disclosures Regarding Non-GAAP Financial Information

The Company reports and discusses its operating results using financial measures consistent with generally accepted accounting principles (GAAP) and believes this should be the primary basis for evaluating its performance.

The preceding discussion of our results includes a discussion of non-GAAP financial measures such as Television cash flow, Radio cash flow, Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Plaza EBITDA. These non-GAAP measures should not be viewed as alternatives or substitutes for GAAP reporting.

The Company believes the presentation of these non-GAAP measures is useful to investors because they are used by lenders to measure the Company’s ability to service debt; by industry analysts to determine the market value of stations and their operating performance; and by management to identify the cash available to service debt, make strategic acquisitions and investments, maintain capital assets and fund ongoing operations and working capital needs; and, because they reflect the most up-to-date operating results of the stations inclusive of pending acquisitions, time brokerage agreements or local marketing agreements. Management believes they also provide an additional basis from which investors can establish forecasts and valuations for the Company’s business.

Television and radio cash flow are calculated as income (loss) from operations plus amortization of program rights, depreciation and amortization, non-cash charges, Internet and corporate expenses minus gain on asset exchange, net, payments for broadcast rights, amortization of non-cash benefit resulting from a change in national advertising representation firm and non-convergence Internet revenue.

Plaza EBITDA is calculated as Plaza income (loss) from operations plus depreciation, Plaza fire expenses (reimbursements), net, minus Plaza operating expenses allocated to the TV and Radio segments.

EBITDA is calculated as income from operations plus amortization of program rights; depreciation and amortization; stock-based compensation; Plaza fire expenses (reimbursements), net; gain on exchange of assets, net; and non-cash charges minus payments for broadcast rights and amortization of non-cash benefit resulting from a change in national advertising representation firm.

For a reconciliation of these non-GAAP financial measurements to the GAAP financial results cited in this press release, please see the supplemental tables at the end of this release.

About Fisher Communications, Inc.

Fisher Communications (FSCI) is an innovative local media company with television, radio, internet and mobile operations throughout the western United States. Fisher operates 18 television stations, which include network affiliations with ABC, CBS, FOX, Univision and CW that reach 3.5% of U.S. television households, and three radio stations targeting a full range of audience demographics. Fisher Interactive produces more than 120 local and hyper-local websites and delivers comprehensive multiplatform advertising solutions to local businesses. The Company is headquartered at Fisher Plaza, a 300,000 square foot media, telecommunications and data center facility in Seattle, WA. More information about Fisher Communications, Inc. is available at www.fsci.com.

Forward-Looking Statements

This news release includes forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. Forward-looking statements include information preceded by, followed by, or that includes the words “guidance,” “believes,” “expects,” “intends,” “anticipates,” “could,” or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this news release, concerning, among other things, changes in revenue, cash flow and operating expenses, involve risks and uncertainties, and are subject to change based on various important factors, including the impact of changes in national and regional economies, our ability to service and refinance our outstanding debt, successful integration of acquired television stations (including achievement of synergies and cost reductions), pricing fluctuations in local and national advertising, future regulatory actions and conditions in the television stations’ operating areas, competition from others in the broadcast television markets served by the Company, volatility in programming costs, the effects of governmental regulation of broadcasting, industry consolidation, technological developments and major world news events. Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this news release might not occur. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. For more details on factors that could affect these expectations, please see the risk factors in our Annual Report on Form 10-K for the year ended December 31, 2010, which we have filed with the Securities and Exchange Commission.

Contacts:
Sard Verbinnen & Co
Paul Kranhold or Ron Low
(415) 618-8750
Robin Weinberg
(212) 687-8080

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Fisher Communications, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(Unaudited)

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Fisher Communications, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Unaudited)

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Fisher Communications, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flow
(Unaudited)

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Fisher Communications, Inc. and Subsidiaries
GAAP to Non-GAAP Reconciliations
(Unaudited, in thousands)

The following table provides a reconciliation of income from continuing operations (GAAP) to EBITDA (non-GAAP) in each of the periods presented:

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The following table provides a reconciliation of television income from continuing operations (GAAP) to television broadcast cash flow (non-GAAP) in each of the periods presented:

The following table provides a reconciliation of radio income from continuing operations (GAAP) to radio broadcast cash flow (non-GAAP) in each of the periods presented:

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The following table provides a reconciliation of Plaza income from continuing operations (GAAP) to Plaza EBITDA (non-GAAP) in each of the periods presented:

The following table provides television net revenue comparisons in each of the periods presented:

The following table provides radio net revenue comparisons in each of the periods presented:

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