HOSTILE URBAN RADIO TAKEOVER?

TAMPA – Tama Broadcasting filed a lawsuit in federal court Tuesday accusing its largest creditor of serious violations of federal and state laws as a result of a company restructuring plan gone bad.

The federal lawsuit pits Tama, the owner of nine radio stations in Florida and Georgia, against D.B. Zwirn Special Opportunities Fund, a multibillion-dollar hedge fund that is shutting down after losing the confidence of its wealthy global investors.

Daytona Beach natives Dr. Glenn W. Cherry and Charles W. Cherry II are major shareholders of Tama, which owns and operates WTMP AM and FM in Tampa, and four FM radio stations – WJSJ, WSJF, WHJX, and WFJO in Jacksonville, and three FMs in Savannah, Ga. [read the whole story here

Read More...

Summary only...