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Pulling the Plug on Sinclair
By Murshed Zaheed Posted on Wed Oct 20, 2004 at 02:10:54 PM EST
Last week Lauren asked you to contact Sinclair Broadcasting Group (SBG) headquarters and the managers of its 62 locally owned stations, and to urge them not to air the anti-Kerry documentary Stolen Honor: Wounds That Never Heal," under the guise of "news." Approximately 30,000 of you joined thousands of other online activists blistering SBG for it's total disregard for its stewardship of the public airwaves. Just over the past week the value of Sinclair stock plummetted by over 15% representing a $102 million dollars in shareholder value. Yet despite all the outrage, it appears SBG is moving forward by requiring its 62 stations to air the controversial broadcast, eventhough the exact format is still unclear at this point. In other words our work is not done.
SBG's decision is just a perfect example of what is wrong in this era of increased concentration of media ownership. Not only is SBG using its large media holdings to limit diversity of ideas by pushing the partisan political agenda of its executives, it is robbing its local stations of their ability to make decisions about how best to serve the local communities in which they operate. Since SBG owns more local stations than any other media company, its CEOs in Maryland are controlling what people see in 39 media markets across the country during the heat of the election season. So this is what we can do. We can turn the pressure up in two more ways: - Contact Sinclair advertisers. We read your suggestions, and now we are asking everone else (in an email to be sent out to our entire list this evening) to contact Sinclair advertisers through boycottsbg.com, which has a list of local and national advertisers. According to boycottsbg.com, the number of advertisers who have already pulled out is approaching 80.
- Action for Sinclair shareholders: As a publicaly owned company Sinclair is also accountable to its shareholders. If your pension fund is any of those listed below, you are invested in Sinclair, and in that case please call your pension fund and request that they divest from any Sinclair stock or take other appropriate disciplinary action because Sinclair's management has placed partisan political interests ahead of its financial obligations to the company's shareholders.
Here is the contact information for the pertinent Sinclair related pension funds: College Retirement Equities (TIAA-CREF) 212-916-4000 (Ask for CEO Herbert Allison's office) California Public Employee Retirement System (CALPERS) 916-326-3829 California State Teachers Retirement Systems (CALSTRS) 916-229-3700 Ohio Public Employee Retirement System 614-222-0011 State Teachers Retirement System of Ohio 614-227-4090 State Board of Administration of Florida Retirement System 1-800-228-5453 Colorado Public Employees Retirement Association 303-832-9550 So lets keep the heat on Sinclair. Keep making these calls and forward our Sinclair email to your family and friends so we can ratched up the public pressure. Let us know what kind of responses you are getting from SBG, their affiliates, and shareholders. We are keeping track. Thank you again for all that you do.
Tags: Media and Democracy (all tags)
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