USA Today Money: Plan to air divisive film raises questions(Sinclair)

[RamboLiberal]

http://www.usatoday.com/money/media/2004-10-11-sinclair_x.htm

Wall Streeters, political activists and media critics Monday were trying to answer a perplexing question: Why would Sinclair Broadcasting CEO David Smith embroil himself in controversy by ordering his stations to air Stolen Honor: Wounds That Never Heal— a documentary challenging Democratic presidential nominee John Kerry's Vietnam service — within days of the presidential election?
The decision annoyed investors. Sinclair's shares, which have lost about half their value in 2004, closed Monday at $7.38, down 12 cents. That's about as low as they've been since 1995.

"I don't want my media companies that cover the news to be making news," says Barry Lucas of Gabelli & Co., which owns about 4% of Sinclair.

<snip>

With its heavy concentration of Fox and WB affiliates, ranking in the middle of the pack in mostly midsize markets, Sinclair is barely profitable and laden with debt. It had a net profit of $14 million on revenue of $739 million in 2003.

Sinclair hopes to change that by solidifying its hold on local markets by controlling, for example, two stations in more cities and sharing operating and news-gathering costs. But it needs the federal government to relax several media ownership restrictions.

[Wickerman]

1. They want media ownership rules lessoned?

They are the friggin' poster kids for why we NEED regulation.

[joeybee12]

3. Yeah, and they'll get it if Dumbo is re-appointed!

That's apparently the plan!

[Connie_Corleone]

2. It's down another .09 today.

$7.29

[CO Liberal]

4. Soon You'll Be Able to Use Sinclair Stock For Toilet Paper

It'll be cheaper than Charmin....

[JackDragna]

5. When will people understand?

Their media companies have been "making" news ever since Clinton got into office. From Travelgate to Haircutgate, it's been nothing but a non-stop smear job on every liberal lucky enough to rise above the post of local dogcatcher. Isn't this what they wanted, the complete unification of politics and the news outlets? What a bunch of friggin yahoos.

[Marthe48]

6. sounds like another Enron

or Republican business as usual.