William B. Tanner, Businessman, 75

[DGH]

.

It was reported from Memphis, Tennessee, that William B. Tanner, a
multimillionaire businessman who got his start peddling radio jingles,
died Thursday, December 1, 2005, of complications from cancer, says
friend William Norcross, at the age of 75.

Tanner, who grew up on a farm, started his career swapping jingles for
radio air time, which he then sold to advertisers. He built a media
company that sold in 1982 for almost $40 million and then bought
controlling interest in a former United American Bank.

He built a reputation as a flamboyant salesman who made millions
through his media and banking ventures. He was also known for throwing
lavish parties and for having troubles with the law.

In 1985, Tanner went to federal prison for almost two years after
pleading guilty to mail fraud and tax violations. He was under
indictment on charges of bribing a judge for a favorable ruling in a
lawsuit when he died.

After his prison stint, Tanner went into the billboard advertising
business and sold his company in 1996 in a cash and stock deal worth
$100 million. That same year, he sold his banking stock for $55 million
and in 1998 began buying a string of Kia automobile dealerships.

AP