Sinclair is Bobbing and Weaving

It appears Sinclair has dodged a bullet by revising his plans for airing "Stolen Honor" this Thursday evening. But one must wonder just how much he's cleaned up his act. He still intends to broadcast portions of the program along with balencing film supportive of Kerry. But one has to wonder if this is merely a ploy to appease advertisers and still do damage to the Kerry campaign. One way or another, he has created a bit of a media frenzy that's guarenteed to bring many viewers to his program. I know I will be watching just to see if he's truly reformed.

Sinclair stock rises after Kerry film droppped | Reuters.com

Shares of Sinclair Broadcast Group Inc. (SBGI.O: Quote, Profile, Research) jumped nearly 9 percent on Wednesday, a day after the TV station owner backed away from plans to air a film critical of Sen. John Kerry that Democrats have said is a blatant political statement masquerading as news.

Sinclair said after Tuesday's market close that it would only run portions of the program "Stolen Honor: Wounds That Never Heal, about the Democratic presidential candidate's anti-war activities 30 years ago as part of an hour-long special on Friday.

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Sinclair stock rises after Kerry film droppped

Wed Oct 20, 2004 11:10 AM ET

NEW YORK, Oct 20 (Reuters) - Shares of Sinclair Broadcast Group Inc. (SBGI.O: Quote, Profile, Research) jumped nearly 9 percent on Wednesday, a day after the TV station owner backed away from plans to air a film critical of Sen. John Kerry that Democrats have said is a blatant political statement masquerading as news.

Sinclair said after Tuesday's market close that it would only run portions of the program "Stolen Honor: Wounds That Never Heal, about the Democratic presidential candidate's anti-war activities 30 years ago as part of an hour-long special on Friday.

Sinclair shares had dropped sharply since the controversy began earlier this month amid concern over a possible advertising boycott and potential legal and regulatory issues stemming from the controversy. Democrats have demanded equal air time from Sinclair, whose top executives have been major contributors to Republicans in recent years.

Shares rose 55 cents to $6.81 on Wednesday morning on the Nasdaq, but the stock still is down 54 percent year to date in part on Sinclair's struggles with an unsteady advertising market. It had fallen by more than 16 percent after news came out that it planned to air the controversial film.

"What the market perceives is that Sinclair has backed down -- and now all the problems will go away," said Blair Levin, an analyst at Legg Mason. Levin said it was unclear, though, whether the company's critics would be appeased by the company's move and the potential impact of the controversy on its advertising.

In a statement responding to Sinclair's announcement, Kerry's campaign said the company "has a history of putting their own partisan politics ahead of honest journalism."

"We do hope they will reconsider their decision to help their friend, George W. Bush, by imposing false, negative attacks upon their viewers," Kerry campaign spokesman Chad Clanton said.



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