While I cannot debunk BigA's thought of diversion, I do see this as fighting fire with fire or an eye for any eye.
Hannity did this interview on his radio show, not his TV show. That tells me that Fox News isn't supporting this. If they were, you'd have a point.
This is Hannity being a baby, and not accepting the fact that he's wrong about something. No one ever targeted him for anything else he did. He's kept his personal life clean. They even let him point a gun at Juan Williams. No problem. But promoting a conspiracy theory that has been debunked by everyone, including the family of the victim, is going off the reservation.
Madow hasn't attacked him, or taken the side of Media Matters. He's picking her just because she airs at the same time. She hasn't supported a conspiracy theory, or even said anything mean about anyone. It's not her style. She would be justified in filing a lawsuit against him for character assassination.
Fighting fire with fire is targeting Kathy Griffin. That's why CNN fired her. She went off the reservation and got fired.
Long term, playing the advertiser card is bad for TV. We saw how it hurt talk radio. Advertisers have lots of places to put their money, and they're not looking for bad publicity. Even now, years later, major advertisers have "do not air" clauses against ANY "controversial programming." This is bad for everyone, saying if I can't have the ball, then no one can have the ball.