Tuesday, October 19, 2004
Sinclair Broadcasting
I was just starting to post here about the Sinclair Broadcast Group's current stock slide. Sinclair management have been so busy hushing up news that reflects badly on Bush and presenting fake "news" that trashes Kerry, that they forgot that they run a publicly held company and have fiduciary responsibilities to their shareholders. I was going to suggest that it was time for a shareholder lawsuit when I read a blog post by Josh Marshall on the same topic. And he's telling us about some real, live shareholder lawsuits against Sinclair. Huzzah!
Update:
The way to effect change in corporate behavior is, of course, economic pressure. Besides the stock-price free fall (down over 50%) and the shareholder lawsuits, SBG sales are also being hit - almost 80 advertisers have withdrawn their ads from Sinclair TV outlets.
Update:
The way to effect change in corporate behavior is, of course, economic pressure. Besides the stock-price free fall (down over 50%) and the shareholder lawsuits, SBG sales are also being hit - almost 80 advertisers have withdrawn their ads from Sinclair TV outlets.
