CBS is running scared. What other explanation can there be for their stonewall approach to Rathergate? An election? There are far more important things at stake here for them then the victory of John Kerry – an increasingly iffy prospect anyway. We’re talking about tens of millions of dollars in advertising revenue, maybe more. If the reputation of CBS News’ flagship “Sixty Minutes” comes crashing down, their whole enterprise is in jeopardy. No wonder ABC has suddenly put aside its conventional liberalism and gleefully led the charge for the facts.
This also explains why they have hunkered down so completely, so far not offering an explanation of where the documents came from or who their experts were. They are perfectly aware of the old saw “It’s not the crime – it’s the coverup.” But in this case they have something much greater to fear than the Republican or Democratic parties… their stockholders.
UPDATE: This could further tell us why Dan Rather is so willingly falling on his sword, as Powerline indicates in the link above. Can you imagine how much CBS stock Rather must own at this point?
MORE: In case you have not seen it, the latest on “kerning” and “centering,” etc. (via Jim Geraghty)