Report: 9 Tama Stations In Lease Deal, On The Block
September 17, 2007 at 5:30 AM (PT)
The ST. PETERSBURG TIMES reports that TAMA BROADCASTING Pres./CEO Dr. GLENN CHERRY has stepped down as GM of Urban AC WTMP-A-F/TAMPA and may have to sell nine of the company's stations in a deal compelled by the company's investment partner.
The TIMES says that the stations, including WTMP, have been leased beginning last week to D.B. ZWIRN SPECIAL OPPORTUNITIES FUND in an agreement pushed by partner BLACK ENTERPRISE/GREENWICH STREET CORPORATE GROWTH PARTNERS in a move that looks to get back some of the $16 million in financing it provided to TAMA since 2002. Also under ZWIRN's lease deal and on the block, according to the TIMES, are Regional Mexican WHJX-WFJO (FIESTA 92.5), Jazz WJSJ-WSJF (SMOOTH JAZZ 105.3), and WOKF/JACKSONVILLE and Jazz WSSJ (SMOOTH JAZZ 100.1), Classic Rock WTHG (THE HAWK 104.7), and Adult Hits WSGA (FREEDOM 92.3)/SAVANNAH. CHERRY would retain two stations, Talk WPUL-A/DAYTONA BEACH and silent WCSZ-A/GREENVILLE, SC, plus two newspapers.