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Strife for investors continues in case awaiting court date
The legal battle over the broadcast license of KMYA-TV, Channel 49, is entering its 23rd month with resolution nowhere in sight.
The litigation among investors in the Soul of the South Network remains a roadblock to a $2.7 million sale to William Pollack's LR Telecasting of Memphis.
Ownership of the KMYA broadcast license resides with I Square Media, led by Shashwat "Shash" Goyal, a Little Rock hotelier; Dr. Ladly Abraham, a Little Rock pulmonologist; and Dr. Mangaraju "Raj" Chakka, a Little Rock cardiologist.
This trio of Soul of the South investors is being sued for fraud, breach of contract, breach of fiduciary duties and more by another group of investors in the network.
The lawsuit was brought against them by two limited liability companies and a limited partnership representing the interests of Melba Marshall, Richard Mays Sr., Mac Hogan and Linda Harding.
The case was filed on behalf of Mays' Skylar Media LLC, Marshall Media LLC and Hogan Family Ltd., Harding, SSN Funding Ltd., SSN Networks Inc. and Rock City Media LLC, the corporate umbrella for the Soul of the South Network.
Other named defendants are Pollack's LR Telecasting and Rebel Media, representing a 90 percent stake in I...