"'Twill be taken and noted as a precedent."

Sinclair Broadcast Group has decided not to air "Stolen Honor".

This decision followed the announcement of plans to sue Sinclair on the grounds that running the documentary might adversely affect stock prices, injuring stockholders.

What's astonishing here is that this legal-political double team has gone on with barely a whimper of protest from the rest of the media. In fact, it is being celebrated as a defeat for all of those right-wing scoundrels who support President Bush. We understand that most of the press corps is liberal and desperately wants Mr. Kerry to win. Editors and producers may let that distort their coverage, but they usually aren't so blinded by partisanship that they can't see their own self-interest. Now that this trial lawyer-government precedent has been set, who's to stop it if it next turns, as eventually it will, on the New York Times, or CBS? One of the most important protections that a free press has is independent corporate ownership, but what if the Nixon Administration had unleashed its lawyer friends and government pension funds on the Times Company when it was publishing the Pentagon Papers, or the Washington Post when it was digging into Watergate? If the standard now is that stirring controversy is a fraud against shareholders because it may cost ad revenue, a lot more media owners than Sinclair are going to become political targets.

Indeed, what has happened to the price of Viacom in the wake of CBS's little problem with those memos?