SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

FrontFour Capital Group LLC

(Last)

(First)

(Middle)

TWO STAMFORD LANDING

68 SOUTHFIELD AVENUE, SUITE 290

(Street)

STAMFORD

06902

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
FISHER COMMUNICATIONS INC [ FSCI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			See footnotes 1 and 2

3. Date of Earliest Transaction (Month/Day/Year)
05/11/2010

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/11/2010		P		2,302	A	$15.75	66,880	I	See footnotes 1 and 2⁽¹⁾⁽²⁾
Common Stock	05/12/2010		P		4,000	A	$17.3466	70,880	I	See footnotes 1 and 2⁽¹⁾⁽²⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

1. Name and Address of Reporting Person^*

FrontFour Capital Group LLC

(Last)

(First)

(Middle)

TWO STAMFORD LANDING

68 SOUTHFIELD AVENUE, SUITE 290

(Street)

STAMFORD

06902

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

X	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			See footnotes 1 and 2

1. Name and Address of Reporting Person^*

Lorber David A

(Last)

(First)

(Middle)

TWO STAMFORD LANDING

68 SOUTHFIELD AVENUE, SUITE 290

(Street)

STAMFORD

06902

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

X	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			See footnotes 1 and 2

Explanation of Responses:

1. The securities reported here, which may be deemed beneficially owned by FrontFour Capital Group, LLC (the "Adviser"), are held directly by FrontFour Master Fund, Ltd. and Event Driven Portfolio, a series of Underlying Funds Trust (collectively the "Funds"), which are advised and sub-advised, respectively, by the Adviser. The Adviser may be deemed to be the indirect beneficial owner of the securities reported herein by reason of its position as investment adviser and sub-adviser of the Funds and may be deemed to hold a fractional pecuniary interest in such shares. David Lorber, member and portfolio manager of the Adviser, also serves as a member of the board of directors of Fisher Communications, Inc. Mr. Lorber may also be deemed to be the indirect beneficial owner of the securities reported herein by reason of his position with the Adviser. Both Reporting Persons disclaim beneficial ownership of all such securities in excess of their actual pecuniary interest, if any.

2. David Lorber, as a member of the board of directors of Fisher Communications, Inc., also directly owns 994 shares of common stock of the issuer (previously and separately reported).

Remarks:

	/s/ Front Four Capital Group, LLC, by David A. Lorber as its Portfolio Manager	05/13/2010
	/s/ David A. Lorber	05/13/2010
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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