How Low can it go?

Sinclair Broadcasting stock is down another 3% today after losing almost 8% yesterday. The stock as lost almost 100 million dollars in value in the last week.

Media Matters for America is underwriting the costs of a shareholder action.

Media Matters for America (MMFA) announced today that it is underwriting the costs of a shareholder action, demanding that Sinclair Broadcast Group, Inc., provide equal time to those "with views opposed to the allegations" in the anti-Kerry film Stolen Honor, which Sinclair plans to air between October 21-24, in prime time, on all 62 of its stations reaching up to 25 percent of U.S. TV households.

At 10 a.m. today, a letter from Glickenhaus & Co., a Wall Street firm with clients who hold stock in Sinclair, was delivered to the CEO of Sinclair, David D. Smith, and the company's board of directors, demanding that they immediately "provide those with views opposed to the allegations in the film an equal opportunity to respond." If an answer to Glickenhaus' demand is not received by close of business today, Tuesday October 19, additional remedies, including an injunction in a court of law prior to the first scheduled airing of Stolen Honor October 21, may be sought.