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W E D N E S D A Y , O C T O B E R 1 3 , 2 0 0 4Sinclair Scandal Widensby Michael in New York on
10/13/2004 02:10:00 AMJohn and others have detailed how to fight back against Sinclair andits marshalling of the airwaves to throw support behind Bush'sreelection. A troubling story in USA Today makes clear it may noteven be a case of partisan wrangling -- it's all about business.Sinclair -- which is now synonymous with the dangers of mediaconsolidation -- is throwing its support behind Bush because itsbusiness is hurting and it wants to consolidate even further and havethe right to control TV stations and radio stations and newspapers inone broadcast area. At least you could respect them if it was just aviciously held political belief rather than a cold calculation.The good news, so far?"The decision [to air the anti-Kerry video just days before theelection] annoyed investors. Sinclair's shares, which have lost abouthalf their value in 2004, closed Monday at $7.38, down 12 cents.That's about as low as they've been since 1995.""But many believe Sinclair's provocative decision shows how muchthe company has riding on the election."With its heavy concentration of Fox and WB affiliates, ranking in themiddle of the pack in mostly midsize markets, Sinclair is barelyprofitable and laden with debt. It had a net profit of $14 million onrevenue of $739 million in 2003."Sinclair hopes to change that by solidifying its hold on local marketsby controlling, for example, two stations in more cities and sharingoperating and news-gathering costs. But it needs the federalgovernment to relax several media ownership restrictions."Sinclair wants officials to permit a company to own two or morestations in more communities than allowed now. It also wants theFCC to ease a restriction that bars a company from owning TVstations reaching more than 35% of all homes, and to lift the rulethat keeps companies from owning newspapers and TV stations inmost markets."It isn't just the Supreme Court that will change if John Kerry loses.It'll be what you read, what you hear and what you watch on TV.
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Show AllA M E R I C A B L O G T VSinclair Comm CollegeMove your career forward with an accreditedonline degree!www.CourseAdvisor.comSinclair CollegeTake classes and earn your college degree100% online. Financial Aid!www.Education180.comJacksonville Tv StationsYour Guide to Local Jacksonville TVStations. Maps, Reviews & More!www.AreaGuides.net
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Your President's weeklyaddress from Europe.Next 6AMERICAblog News| A great nation deserves the truth: Sinclai...http://www.americablog.com/2004/10/sinclair-scandal-widens.html
1 of 64/6/09 11:01 PM
10/13/2004 02:10:00 AMJohn and others have detailed how to fight back against Sinclair andits marshalling of the airwaves to throw support behind Bush'sreelection. A troubling story in USA Today makes clear it may noteven be a case of partisan wrangling -- it's all about business.Sinclair -- which is now synonymous with the dangers of mediaconsolidation -- is throwing its support behind Bush because itsbusiness is hurting and it wants to consolidate even further and havethe right to control TV stations and radio stations and newspapers inone broadcast area. At least you could respect them if it was just aviciously held political belief rather than a cold calculation.The good news, so far?"The decision [to air the anti-Kerry video just days before theelection] annoyed investors. Sinclair's shares, which have lost abouthalf their value in 2004, closed Monday at $7.38, down 12 cents.That's about as low as they've been since 1995.""But many believe Sinclair's provocative decision shows how muchthe company has riding on the election."With its heavy concentration of Fox and WB affiliates, ranking in themiddle of the pack in mostly midsize markets, Sinclair is barelyprofitable and laden with debt. It had a net profit of $14 million onrevenue of $739 million in 2003."Sinclair hopes to change that by solidifying its hold on local marketsby controlling, for example, two stations in more cities and sharingoperating and news-gathering costs. But it needs the federalgovernment to relax several media ownership restrictions."Sinclair wants officials to permit a company to own two or morestations in more communities than allowed now. It also wants theFCC to ease a restriction that bars a company from owning TVstations reaching more than 35% of all homes, and to lift the rulethat keeps companies from owning newspapers and TV stations inmost markets."It isn't just the Supreme Court that will change if John Kerry loses.It'll be what you read, what you hear and what you watch on TV.
Sinclair Comm CollegeMove your career forward with an accreditedonline degree!www.CourseAdvisor.com
Add New Comment
Daily KosObama and Holder, Release the Torture Memos -We've two competing stories for why AG EricHolder has requested another delay in the court-imposed deadline for releasing three key Bush OLCtorture mem...6 minutes agoFiredoglakeConyers Explains Failure to Impeach - The HouseCommittee on the Judiciary Majority Staff haswritten a Final Report to Chairman John Conyers,Jr. last month (March 2009), REINING IN THEIMPERI...43 minutes agoHuffPost PoliticsAllison Kilkenny: Obama, Nukes, and the World -While Obama's pursuit of nuclear disarmamentwould be noble, double standards, favoritism, andfear-mongering are cancerous elements that robthe U.S. of res...47 minutes agoEschatonBig Shitpile - Still growing...59 minutes agoCrooks and LiarsNCAA Basketball Open Thread - Satire from TheOnion. Yeah, yer brackets are in the toilet. Openthread for the NCAA Championship game, a regularopen thread appears at 8:30 Pacific Ti...1 hour agoJ O H N ' S P H OT O S
Show AllA M E R I C A B L O G T VSinclair Comm CollegeMove your career forward with an accreditedonline degree!www.CourseAdvisor.comSinclair CollegeTake classes and earn your college degree100% online. Financial Aid!www.Education180.comJacksonville Tv StationsYour Guide to Local Jacksonville TVStations. Maps, Reviews & More!www.AreaGuides.net
Awkward moment formormon
Your President's weeklyaddress from Europe.Next 6AMERICAblog News| A great nation deserves the truth: Sinclai...http://www.americablog.com/2004/10/sinclair-scandal-widens.html
1 of 64/6/09 11:01 PM