Begging to Differ dissects the Sinclair Broadcasting flap. It all comes down to this. . .
To summarize, Sinclair arguably runs afoul of the Equal Time Rule and/or rules regarding electioneering communications if: airing Stolen Honor constitutes a contribution to, or use of the networks by, the Bush campaign; and Kerry is not given equal time; and the documentary is a 90-minute advertisement, not a news, commentary or editorial broadcast.
It’s a stretch.
. . . but I suggest you read all of it for yourself.