Yow. Sinclair Broadcasting Group's stock just tumbled by 7.81% today over concerns about lost advertising revenue due to the Stolen Honor flap. To put it into perspective, SPGI's stock price is now the lowest it's been in a decade except for a couple weeks in April of 2001. As Lessig points out, that's a good $60 million they've lost in market cap over this.
UPDATE 10-21-04: Sinclair has now backed off from their original plans (along with the plea of No really! We never said pickles!) and the market has responded with an 11% bump.
Posted by bug to Media at October 19, 2004 1:09 AM | TrackBack