David Shuster's update on "Sinclair's sin"

[stray cat]

http://www.msnbc.msn.com/id/5445086/ Update on Sinclair's sin (David Shuster)

A week ago, I wrote about the decision by the Sinclair Broadcast Corporation to air a factually inaccurate and journalistically reprehensible film on its 62 television stations. My colleague Joe Trippi has spoken articulately (on  this blog and in his new book) about the "bottom up power" of the Internet in putting the heat on organizations. 

For those of you wondering where the battle stands with Sinclair, here is an update:
Thanks to sites such as www.boycottsbg.com, Sinclair's advertisers continue to face a relentless barrage of calls and criticism.
Last week, Sinclair's stock price fell by 6 percent.
The film's producer, (Carlton Sherwood with Red, White, and Blue Productions) is now being sued for libel by a highly decorated Vietnam vet named Kenneth J. Campbell. (Campbell says the film's footage of him at a 1971 war protest with the accompanying narration leaves viewers with the false perception Campbell had lied about his military service.)
The legislation Sinclair is counting on to improve its long term financial difficulty is in deep trouble.  (Senators of both parties say the Sinclair controversy has single handedly reversed whatever momentum existed to ease big media ownership.)

Despite all of this, Sinclair still intends to broadcast "Stolen Honor," in its entirety, as soon as this week.  Sinclair continues to describe the film as "news," even though it was released (and picked apart) at a press conference six weeks ago.

Sinclair seems unconcerned with the factual errors in the film, the pressure on Sinclair's advertisers, or the lack of confidence the market now seems to have in Sinclair's management.  But even if Sinclair's executives don't care... investors will.  And whether you support John Kerry or oppose him... now is not a great time to be an investor in a company as reckless as the Sinclair Broadcast Corporation.

[BootinUp]

1. Finally some straight talk

From GE too. Shocking.