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Radio World Newsbytes :: Technology

FCC Said to be Looking Into Zwirn, Tama Deal
 
9.05.2008

The Federal Communications Commission is looking into what may be an improper transfer of radio licenses concerning financier Daniel Zwirn and his $5 billion hedge fund, according to the New York Post.

Tama Broadcasting failed to make a payment on a $20 million loan from Zwirn and then the fund forced Tama into Chapter 11 earlier this year.

At the time, Tama’s then-CEO, Dr. Charles Cherry, told the FCC that Zwirn had transferred ownership of the licenses to itself — without commission approval.

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