ACME Television Announces License and Consulting Agreement With Fisher for The Daily Buzz
SANTA ANA, Calif., April 21, 2010 -- ACME Television, LLC, a unit of ACME Communications, Inc. (Pink Sheets:ACME), today announced that it has entered into a license and consulting agreement with Fisher Communications, Inc. (Nasdaq:FSCI) to consult and manage operations of ACME's The Daily Buzz and complementary websites utilizing Fisher's broadcast-to-broadband strategic initiative.
Under terms of the agreement, Fisher will provide consulting services to ACME's The Daily Buzz television program, a 3-hour nationally syndicated morning news show currently airing in over 161 markets. The Daily Buzz is produced in Orlando, Florida, at the Studios at Full Sail University. Fisher will also license certain assets of the program in order to produce unique, digital content to be distributed on both traditional broadcast and newly created digital platforms.
Doug Gealy, President and Chief Operating Officer of ACME Television, added, "We're very excited to work with Fisher on this new initiative, which will expand the show's footprint and capitalize on Fisher's Internet expertise. We plan to offer new digital revenue opportunities to existing and new affiliates of The Daily Buzz and to ACME's six television stations. Additionally, our relationship with Fisher will enable the show's migration to high definition production for the 2010/2011 season."
In connection with the agreement, Troy McGuire, Fisher's Vice President of Digital Content, will oversee operations of the show as well as Fisher's digital content development efforts. McGuire was The Daily Buzz's Executive Producer from 2004 through 2007.
"I'm very excited about returning to The Daily Buzz in this new role," said McGuire. "We plan to create new revenue opportunities for broadcasters by producing compelling digital content that will be distributed via multiple platforms including The Daily Buzz and the Internet. This new content will be catered to the younger-skewing demographics of the show and its affiliated stations."
ACME Communications, Inc. owns and operates six television stations serving markets covering 2.2% of the nation's television households. The Company's stations are: KWBQ-TV and KASY-TV, Albuquerque-Santa Fe, NM; WBXX-TV, Knoxville, TN; WBDT-TV, Dayton, OH; WIWB-TV, Green Bay-Appleton, WI and WBUW-TV, Madison, WI. All of the Company's stations, except KASY-TV, a MyNetworkTV affiliate, are affiliates of The CW Network. The Company also produces The Daily Buzz, a nationally syndicated morning news program which airs on 161 television stations across the country. The Company's shares are traded over-the-counter under the symbol: ACME.PK.
About Fisher Communications
Fisher Communications, Inc. is a Seattle-based communications company that owns and operates 13 full power television stations, 7 low power television stations, and 8 radio stations in the western United States. The Company also owns and operates Fisher Interactive Network, its online division (including over 100 online sites); Fisher Pathways, a satellite and fiber transmission provider; and Fisher Plaza, a media, telecommunications, and data center facility located near downtown Seattle.
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 "plan," "enable" 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. 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.
CONTACT: ACME Communications, Inc.
Doug Gealy, President & Chief Operating Officer
Tom Allen, Executive Vice President & Chief Financial Officer