Odyssey Marine Exploration president Mark Gordon has taken over day-to-day management of the Tampa treasure-salvaging company in line with a planned transition announced in August. Gordon succeeded longtime chief executive and company co-founder Greg Stemm, who in turn has become chairman of the board, succeeding Bradford B. Baker. Baker will remain on the board as a director. In a statement Thursday, Stemm said the management changes reflect "the broader, ongoing transition of Odyssey from an entrepreneurial business model to a more predictable revenue-generating entity." Part of Gordon's mission is to move the company from solely seeking high-value historical shipwrecks to searching for commodity shipwrecks and mineral exploration, as well. The company posted a $4 million net loss in its most recently reported quarter and its stock price has fallen from $3 a year ago to below $1 in recent weeks. Odyssey shares closed Thursday at $1.01 apiece, up 10 cents.
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CBS Radio to trade6 bay area stations
Beasley Broadcast Group said Thursday that it is acquiring six FM radio stations in the Tampa Bay area as part of a larger station swap with CBS Radio. Through the swap, Beasley will also acquire seven stations in Charlotte, N.C., and one AM station in Philadelphia. In return, CBS Radio will get two FM stations in Philadelphia and three stations in Miami, where CBS already owns two television stations. Pending regulatory approval, Beasley will take over these Tampa Bay area stations: WHFS-AM 1010, WHFS-FM 98.7, WLLD-FM 94.1, WQYK-FM 99.5, WRBQ-FM 104.7 and WYUU-FM 92.5. Based in Naples, Beasley owns 44 stations - 28 FM and 16 AM - in 11 large and midsize markets nationwide and has 7.1 million weekly listeners. The deal was expected to close by the end of the year and involves no exchange of money.
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