8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

                    April 27, 2006                    
Date of Report
(Date of earliest event reported)

FISHER COMMUNICATIONS, INC.

(Exact Name of Registrant as Specified in Charter)

Washington	000-22439	91-0222175
(State or Other Jurisdiction of Incorporation)	(Commission File No.)	(IRS Employer Identification No.)

100 Fourth Avenue N., Suite 510, Seattle, Washington 98109

(Address of Principal Executive Offices, including Zip Code)

(206) 404-7000

(Registrant’s Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

     o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

EXHIBIT 99.1

Item 2.02 Results of Operations and Financial Condition

     The information in this Form 8-K and the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, unless expressly set forth by specific reference in such filing.

     On April 27, 2006, Fisher Communications, Inc. issued a press release announcing financial results relating to its first quarter ended March 31, 2006. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(d)	Exhibits
99.1	Press release issued by Fisher Communications, Inc., dated April 27, 2006.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	FISHER COMMUNICATIONS, INC.
Dated: April 27, 2006	By	/s/ Robert C.Bateman
		Robert C. Bateman
		Senior Vice President
		Chief Financial Officer

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Exhibit Index

99.1            Press release, dated April 27, 2006.

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EX-99.1

EXHIBIT 99.1

FOR IMMEDIATE RELEASE

CONTACT:           Rob Bateman, CFO of Fisher Communications, Inc. (206) 404-6776

FISHER COMMUNICATIONS ANNOUNCES FIRST QUARTER 2006 RESULTS

SEATTLE—(BUSINESS WIRE)—April 27, 2006—Fisher Communications, Inc. (Nasdaq: FSCI) today announced its financial results for the quarter ended March 31, 2006. The Company reported net loss of $1.7 million in the first quarter of 2006, compared to net loss of $5.1 million in the first quarter of 2005.

Fisher Communications’ revenue increased 9 percent in the first quarter of 2006 to a total of $33.8 million, as compared to $31.0 million in the first quarter of 2005. “We gained solid revenue and net operating improvements in the first quarter of 2006 – especially in our large-market ABC-affiliated television stations and our Seattle radio stations,” commented Colleen B. Brown, President and CEO of Fisher Communications. “Though the first quarter of the year is generally seasonally lower in the broadcasting industry, we are very encouraged by our first quarter 2006 results and look forward to the remainder of the year.” Television revenue increased $2.0 million, or 10 percent, in the first quarter of 2006, in comparison to the first quarter of 2005; radio revenue increased $0.6 million, or 7 percent, in the same periods. These increases in broadcasting revenue occurred in both local and national revenue categories.

Fisher Plaza revenue increased 13 percent in the first quarter of 2006, primarily as a result of increased occupancy and services fees. The Company recently signed agreements for additional third-party data center customers that increase Fisher Plaza occupancy to 95 percent in the fall of 2006 (after the tenants’ completion of required build-outs).

Cost of services sold in the first quarter of 2006 decreased $0.9 million, or 5 percent, as compared to the first quarter of 2005, due in part to reduced syndicated programming expenses. General and administrative expenses in the first quarter of 2006 decreased $1.3 million, or 13 percent, as compared to the first quarter of 2005, primarily as a result of first-quarter 2005 separation expenses of approximately $1.0 million for the Company’s former chief executive officer, as well as reduced personnel levels in the 2006 period. Depreciation expense decreased

in the same quarterly comparative periods due primarily to lower levels of depreciation as certain assets have become fully depreciated.

The Company will hold its annual meeting of shareholders on Thursday, April 27, 2006, at 10:00 AM Pacific Time. The presentations at the annual meeting are expected to include information regarding the Company’s operating results for the quarter ended March 31, 2006; therefore, the Company does not intend to hold a separate quarterly conference call.

The combined annual meeting and first quarter 2006 presentations are being webcast and can be accessed at the investor information page of Fisher Communication’s Web site at www.fsci.com. A replay of the webcast will be available until Thursday, May 4, 2006, and will also be accessible at the Fisher Web site, as is other information about Fisher Communications.

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Fisher Communications, Inc. is a Seattle-based integrated media company. The Company’s nine network-affiliated television stations, and a tenth station 50% owned by Fisher Communications, are located in Washington, Oregon, and Idaho, and its 27 radio stations broadcast in Washington and Montana. The Company also owns and operates Fisher Plaza, a facility located near downtown Seattle.

FISHER COMMUNICATIONS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

	Three months ended
	March 31
(in thousands, except per-share amounts) Unaudited	2006			2005
Revenue	$	33,828		$	30,957
Costs and expenses
Cost of services sold		15,740			16,623
Selling expenses		6,638			5,878
General and administrative expenses		8,623			9,875
Depreciation and amortization		2,582			4,129
		33,583			36,505
Income (loss) from operations		245			(5,548	)
Other income, net		898			850
Interest expense		(3,454	)		(3,371	)
Loss before income taxes		(2,311	)		(8,069	)
Benefit for federal and state income taxes		(610	)		(3,001	)
Net loss	$	(1,701	)	$	(5,068	)
Net loss per share	$	(0.20	)	$	(0.59	)
Weighted average shares outstanding		8,706			8,625

FISHER COMMUNICATIONS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

	March 31		December 31
(in thousands) Unaudited	2006		2005
Assets
Current assets	$	52,740	$	60,253
Marketable securities, at market value		151,201		170,053
Other assets		66,025		65,775
Property, plant and equipment, net		143,667		144,312
Total assets	$	413,633	$	440,393
Liabilities and stockholders’ equity
Current liabilities	$	18,652	$	24,691
Long-term debt		150,000		150,000
Deferred income taxes		24,419		31,381
Other liabilities		24,565		24,700
Total liabilities		217,636		230,772
Stockholders’ equity, other than accumulated other comprehensive income		100,823		102,193
Accumulated other comprehensive income, net of income taxes		95,174		107,428
Total stockholders’ equity		195,997		209,621
Total liabilities and stockholders’ equity	$	413,633	$	440,393