Complaint against hedge fund


The FCC is investigating whether the D.B. Zwirn hedge fund has taken control of the nine-station Tama Broadcasting group without Commission approval. As first reported by the New York Post, Tama CEO Dr. Charles Cherry filed the complaint with the FCC, alleging that Zwirn has taken control of the group, which is in Chapter 11 federal bankruptcy reorganization after being unable to keep payments current on a $20 million loan from Zwirn. The Post reported that a Zwirn spokesman denied that the hedge fund owns or controls the FCC licenses. Zwirn did establish a subsidiary, Straight Way Radio, which is programming the stations under LMAs.