Shareholders Push Sinclair to Amend Plans
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Meanwhile, a lawyer said he planned to sue on behalf of shareholders, alleging insider trading by top executives as well as damage from the decision to air the film. Media Matters, a media advocacy group, announced it was underwriting the costs of a shareholder action demanding equal time for opposing views.
The company did not directly address the insider trading accusation, but CEO David Smith said executives "have endured personal attacks of the vilest nature."
Eighteen senators, all Democrats, wrote last week to the Federal Communications Commission to ask it to investigate Sinclair's plans. The agency declined to intervene.
New York Comptroller Alan Hevesi, also a Democrat, sent a letter expressing concern to Sinclair on behalf of the state's pension fund, which owns shares in the broadcasting company.
Sinclair stock has dropped to less than $7 a share, from a high of more than $15 a share in January.
Two groups offered programs Tuesday to Sinclair to air in response to its news special. California philanthropist Deborah Rappaport and her husband offered to pay for an hour of air time for the documentary "Going Upriver," a positive portrayal of Kerry's service in Vietnam, before the Nov. 2 election day.
Mother Jones Magazine offered Sinclair a half-hour video of four prominent Republicans -- including John Dean and Pete Peterson -- condemning the Bush administration.
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On the Net:
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Copyright © 2004, The Associated Press
Sinclair is getting lots of heat.
It really does speak volumes
HEY JOHN KERRY ... TELL US WHY YOU ARE SO AFRAID OF THESE MEN