Markets In Action

Uggabugga’s got the details. In fact, the market seems to already be exacting a price for SBGI’s nonsense — this plan may not make it past the shareholders.


UPDATE: A quick check of Sinclair’s board reveals 4 inside and 4 outside directors, with the insiders including the CEO David “Solicitation Arrest” Smith. So this board seems unlikely to overturn Smith’s decision, and there’s not really time for (or likelihood of) any shareholder action. However, a large institutional investor could raise a stink. Apparently, T. Rowe Price owns 5.4% of Sinclair and Putnam Investments owns 9.7%.