Syracuse, N.Y. – The company that runs Taste of Syracuse, Syracuse Nationals and 13 local radio stations was so desperate for cash to stay afloat last year, it took out a $1.1 million loan with a term of just three months, according to a court filing.
To get the loan, Ed Levine, the principal owner and manager of Galaxy Media Partners and Galaxy Events, pledged the Taste of Syracuse and Syracuse Nationals as collateral, according to a lawsuit filed Feb. 16 by the lender.
But Levine defaulted on the loan. And the lender is now suing his media companies for ownership of the two popular events…