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A misquote of a public figure's statement can be a basis for a libel suit only if (1) the misquote was altered with malice, (2) the context of the article was such that readers would assume the quote was an actual quote not a paraphrase, (3) the change in quote constitutes a significant and defamatory difference. Masson v. New York Magazine. U.S. Supreme Court, 1991.
Moreover, a single instance of misquoting in one article is virtually never a basis for libel unless it fundamentally changes the meaning in a way that constitutes defamation per se.
This is not actionable libel.
Point by point, I'll argue it does:
1) Kravitz has by now been fully informed of the misquote. If he or the Indy Star do NOT issue a correction/retraction, then there IS malice.
2) No one can argue against that the "readers would assume the quote was an actual quote not a paraphrase"
3) "Significant and defammatory difference" can be argued here. Vrabel is from the Midwest, played at OSU, still is big in that region. He has stated that after the NFL he wants to get into coaching. You don't think misquoting him in a Midwestern paper does him any damages going forward? It can definitely BE ARGUED.