This article gives some insight into why Sinclair is taking such a big gamble.
They seem pretty damn vulnerable. Their investors are already annoyed by this stunt. They are laden with debt and barely profitable. A hit to their revenues will be a double whammy. It will hit their stock value, the two together will hit their debt rating which will increace their cost of borrowing, which will eat further into their bottom line.
Its obvious what needs to be done.