Sinclair Broadcasting Stock Down 54% This Year
Reported by Melanie - November 4, 2004 -
Your World w/Neil Cavuto was lackluster today (November 4, 2004), however I did hear something which I thought our readers might be interested in. During the "Fox Stox" portion of the show, when the stock performance of selected companies is reviewed, Brenda Buttner, substituting for Neil Cavuto said:
"Fallout. Sinclair Broadcasters. Profits dropping in the latest quarter but still managing to top Wall Street estimates. Sinclair came under fire during the election over plans to air an anti-Kerry documentary. CEO David Smith calling the company a 'poster child for a free and independent press.' He accused certain political groups of trying to stifle Sinclair's First Amendment rights. The stock's down 54% since the start of the year."
3rd Quarter Operating Profits Down 6.2%
Revenues Up 1.8%
The stock closed at $7.00 today.
COMMENT: Letter writing, phone calls and advertiser boycotts work folks! Good job! (Notice how Buttner did away with the pretense and referred to the "documentary" for what it was all along, "anti-Kerry?" Gone is "newsworthy event," or "documentary" (without the anti-Kerry part), etc.) (Several posts on Sinclair Broadcasting and the "documentary" appear in the Free Press Issues category.)
