It may have been shareholders who broke the will of Sinclair Broadcasting Group's management. Blocks of shareholders -- watching Sinclair stock slide -- threatened lawsuits if the company aired the anti-Kerry documentary Stolen Honor on the company's 62 TV stations.
New York state pension fund owns shares in Sinclair. Comptroller Alan Hevesi sent a letter to Sinclair demanding the documentary not be aired.
San Diego attorney William S. Lerach promised a shareholder suit. His plan would charge insider trading by top executives and the decision to air the documentary have hurt the company.
And liberal media advocacy group Media Matters planned to underwrite the costs of a shareholder suit. (Boston Globe)
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