Make us your home page

Radio station owner sues hedge fund partner

The owner of nine radio stations, including WTMP-AM and FM in Tampa, has sued its largest creditor after a failed restructuring effort. Tama Broadcasting of Tampa sued D.B. Zwirn Special Opportunities Fund, a multibillion-dollar hedge fund based in New York, accusing the fund of illegally trying to sell Tama's assets and other deceptive practices. The lawsuit, filed in federal court in Jacksonville, alleges that after Tama leased its stations to Zwirn, the fund began firing employees and changing formats without Tama's consent. Tama is the sixth-largest U.S. black-owned broadcasting group, with other radio stations in Jacksonville and Savannah, Ga. Zwirn lent Tama $16.5-million in 2004 to finance growth; Zwirn claims Tama now owes nearly $40-million, a claim the broadcaster denies.

Radio station owner sues hedge fund partner 04/30/08 [Last modified: Wednesday, April 30, 2008 7:07pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. 'Road to Nowhere' is back: Next phase of Suncoast Parkway coming


    Despite intense public opposition and dubious traffic projections, the Florida Department of Transportation has announced that construction of the toll road known as "Suncoast 2" is expected to start in early 2018.

    The Suncoast Parkway ends at U.S. 98 just south of Citrus County. For years residents have opposed extending the toll road, a project dubbed the "Suncoast 2" into Citrus County. But state officials recently announced that the Suncoast 2 should start construction in early 2018. [Stephen J. Coddington  |  TIMES]
  2. A sports rout on Wall Street


    NEW YORK — Sporting goods retailers can't shake their losing streak.

  3. Grocery chain Aldi hosting hiring event in Brandon Aug. 24


    BRANDON — German grocery chain Aldi is holding a hiring event for its Brandon store Aug. 24. It is looking to fill store associate, shift manager and manager trainee positions.

  4. Lightning owner Jeff Vinik backs film company pursuing global blockbusters


    TAMPA — Jeff Vinik's latest investment might be coming to a theater near you.

    Jeff Vinik, Tampa Bay Lightning owner, invested in a new movie company looking to appeal to a global audience. | [Times file photo]
  5. Trigaux: Look to new Inc. 5000 rankings for Tampa Bay's future heavyweights


    There's a whole lotta fast-growing private companies here in Tampa Bay. Odds are good you have not heard of most of them.


    Kyle Taylor, CEO and founder of The Penny Hoarder, fills a glass for his employees this past Wednesday as the young St. Petersburg personal advice business celebrates its landing at No. 25 on the 2017 Inc. 5000 list of the fastest growing private companies in the country. Taylor, still in his 20s, wins kudos from executive editor Alexis Grant for keeping the firm's culture innovative. The business ranked No. 32 last year. [DIRK SHADD   |   Times]