Sinclair Broadcast Group faces possible bankruptcy
The broadcaster, which is controlled by David Smith and his family and operates 58 television stations, says that if it cannot restructure its heavy debt load, it will have to file for Chapter 11.
By Joe Flint
July 15, 2009
Another big broadcaster may be on the verge of bankruptcy.
Sinclair Broadcast Group Inc., which is controlled by David Smith and his family and operates 58 television stations, said that if it couldn't restructure its heavy debt load, it would have to file for bankruptcy protection.
The Baltimore-based company, which has about $1.3 billion of debt, is trying to negotiate terms on notes of $500 million that are coming due in the next 18 months.
Oh, poor Sinclair Broadcasting, the lying sacks of far-right shit who literally Swift Boated John Kerry two weeks before the 2004 presidential election, and tried to smear Barack Obama before the 2008 election. The same broadcast group which loved the troops so much, they were happy to cheer on the Iraq War, but wouldn’t allow its stations to air a “Nightline” episode honoring our fallen soldiers.
The same right-wing broadcast group that pushed Armstrong Williams’ pro-Bush propaganda on its stations (and viewers).
The same broadcasting group run by family-values guy David Smith, the same David Smith busted in a prostitution sting in 1996.
Awww. Karma’s a bitch, guys.
I’m sure there are plenty of good people who work for this piece of shit company. But I’m only human. And really, when your job requires you to flush your integrity down the toilet like this:
"You weren't reporting news," says the producer, who spoke on the condition of anonymity. "You were reporting a political agenda that came down to you from the top of the food chain."
then it’s hard for me to muster a lot of sympathy. You're just asking for the karmic boot to kick you in the ass.
Does this make me a bad person?
C’est la guerre.
I know that schadenfreude is not becoming on a blogger. But this one hits home. Back in 2004 I joined a small group of activists who protested in front of Nashville’s Sinclair offices during the “Stolen Honor” affair. I waved a sign and chanted against a media conglomerate using its power to spread lies and swing a presidential election. Well, Sinclair got their second term of Bush, and the resulting economic meltdown. And so no, I don’t feel sorry for David Smith and his family and their dwindling fortune.
Good luck restructuring your debt, Mr. Smith. And next time, don't spend all your money on hookers and wingnut political propaganda.