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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: shadowman who wrote (30519)	10/19/2004 1:09:25 PM
From: Mighty_Mezz	Read Replies (1) \| Respond to of 173976

Glickenhaus & Co., a Wall Street investment firm holding 6,100 shares of Sinclair stock, is taking action against Sinclair on behalf of its clients holding shares in Sinclair. General partner Jim Glickenhaus mounted the action based on Sinclair's CEO and directors having a financial obligation to shareholders. "We are not partisan. We are investors," Glickenhaus explained today. "Sinclair's decision has caused harm to the value of our investment in Sinclair. We believe Sinclair must give equal time to an opposing point of view. Otherwise the company is placing its future and the value of our investment in jeopardy, by putting the renewal of its FCC licenses at risk, alienating local advertisers, and opening itself up to libel suits against the company." Since Sinclair's decision to air Stolen Honor became public on October 9, the company's stock has fallen nearly 13 percent, as of the close of the market yesterday, October 18, wiping out nearly $90 million in shareholder value. mediamatters.org