Wednesday, October 20, 2004


Wall Street doesn't like local news

I was reading a delightful story from USA Today about Sinclair Broadcasting's declining stock when I came upon this paragraph
Since 2002 Sinclair has produced and distributed costly news and mostly conservative-opinion segments, called News Central, about national and international affairs for stations' local newscasts. While Sinclair describes the package as a cheaper way to offer news, analysts question why its small stations need to air news at all. [emphasis added]

It's expensive to produce and has no value other than misinforming the voters.

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