Unassociated Document

Item 1.	Security and Issuer

	This Statement on Schedule 13D relates to the common stock (the “Common Stock”) of Equity Media Holdings Corp., a Delaware corporation (the “Issuer”). The principal executive offices of the Issuer are located at 1 Shackleford Drive Suite 400, Little Rock, AR 72211.

Item 2.	Identity and Background

	This statement of beneficial ownership on Schedule 13D is being filed by Larry E. Morton (“Morton”) and the Sandra Morton Life Trust ("Trust" and together with Morton, the “Reporting Parties”) and, pursuant to Rule 13d-1 promulgated by the Securities and Exchange Commission under Section 13 of the Securities Exchange Act of 1934, as amended (the “Act”). The address of the Reporting Parties principal business and principal office is 1 Shackleford Drive Suite 400, Little Rock, AR 72211.

	Morton is a United States citizen whose serves as Chief Executive Officer and President of the Issuer.

	The Trust is organized under the laws of the State of Arkansas. The sole trustee of the Trust is Morton. The beneficiary of the Trust is Sandra C. Morton.

	During the last five years, the Reporting Parties have not been convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws, or finding any violation with respect to such laws.

Item 3.	Source and Amount of Funds or Other Consideration

	3,362 shares of the Common Stock were acquired in exchange for 2,300 shares of Equity Broadcast Corporation (“EBC”) Class A common stock held by the Trust before EBC’s merger with Coconut Palm Acquisition Corp., which merger was completed on March 30, 2007 (the "Merger"). Also, 6,016,325 shares of the Common Stock were acquired in exchange for 876,175 shares of EBC Class A common stock and 1,012,185 shares of EBC Class B common stock held by Arkansas Media, LLC before the Merger. In connection with the Merger, each share of EBC Class A common stock was converted into the right to receive 1.461988 shares of the Common Stock and each share of EBC Class B common stock was converted into the right to receive 4.678362 shares of the Common Stock.

	Morton is the trustee of the Trust. The Trust holds a 41.67% interest in Arkansas Media, LLC. Shortly after the Merger, Arkansas Media, LLC distributed to the Sandra C. Morton Life Trust 2,507,002 shares of Common Stock, which constitutes 41.67% shares of the Common Stock acquired by Arkansas Media, LLC pursuant to the Merger. Thus, as a result of the Merger, Morton, as trustee of the Trust, indirectly beneficially owns 2,510,364 shares of Common Stock.

SCHEDULE 13D

CUSIP No. 191885201

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	1,096,491 stock options to purchase Common Stock were acquired in exchange for 750,000 stock options to purchase shares of EBC held by Morton before the Merger. In connection with the Merger, each stock option of EBC was converted into the right to receive 1.461988 stock options to purchase shares of the Common Stock. The 1,096,491 stock options to purchase Common Stock were fully vested as of December 31, 2006. Since these options are exercisable within 60 days, Morton is deemed to directly beneficially own 1,096,491 shares of Common Stock.

Item 4.	Purpose of Transaction

	The Reporting Parties have acquired all of the shares of Common Stock for investment purposes and have no plan or proposal thereto relates to or would result in any of the events or transactions described in Items 4(a) through 4(j) of Schedule 13D.

Item 5.	Interest in Securities of the Issuer

	The Trust directly owns 2,510,364 shares of Common Stock. The 2,510,364 shares of Common Stock beneficially owned constitute 6.2% of the Issuer’s outstanding shares of Common Stock, based upon 40,665,830 Shares of Common Stock outstanding as of April 16, 2007 and calculated in accordance with Rule 13d-3(d).

	Morton is deemed to directly beneficially own 1,096,491 shares of Common Stock and indirectly beneficially own 2,510,364 shares of Common Stock. The 3,606,855 shares of Common Stock beneficially owned by Morton constitute 8.6% of the Issuer’s outstanding shares of Common Stock, based upon 40,665,830 Shares of Common Stock outstanding as of April 16, 2007 and calculated in accordance with Rule 13d-3(d). Morton has the sole power to vote and dispose such shares of Common Stock.

	Except for the shares of Common Stock acquired pursuant to the Merger (as described in Item 3 of this report), no transaction in the Common Stock of the Issuer was effected by the Reporting Parties during the past 60 days.

	No other person is known by the Reporting Parties to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any of the shares of Common Stock subject to this report.

Item 6.	Contracts, Arrangements, Understandings or Relationships with respect to Securities of the Issuer.

	The Reporting Parties do not have any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the Issuer, finder’s fees, joint ventures, loan or option agreements, puts or calls, guarantees of profits, the division of profits or losses or the giving or withholding of proxies.

SCHEDULE 13D

CUSIP No. 191885201

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Item 7.	Materials to be Filed as Exhibits

	A - Joint Filing Agreement among Reporting Persons

1.	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Larry E. Morton
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o
3.	SEC USE ONLY
4.	SOURCE OF FUNDS PF
5.	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) o
6.	CITIZENSHIP OR PLACE OF ORGANIZATION U.S.
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7.	SOLE VOTING POWER	1,096,491 shares*
		8.	SHARED VOTING POWER	2,510,364 shares**
		9.	SOLE DISPOSITIVE POWER	1,096,491 shares*
		10.	SHARED DISPOSITIVE POWER	2,510,364 shares**
11.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,606,855 shares*
12.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.6%
14.	TYPE OF REPORTING PERSON IN

1.	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Sandra Morton Life Trust
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o
3.	SEC USE ONLY
4.	SOURCE OF FUNDS PF
5.	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) o
6.	CITIZENSHIP OR PLACE OF ORGANIZATION Arkansas
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7.	SOLE VOTING POWER	2,510,364 shares**
		8.	SHARED VOTING POWER	shares
		9.	SOLE DISPOSITIVE POWER	2,510,364 shares**
		10.	SHARED DISPOSITIVE POWER	shares
11.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,510,364 shares
12.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.2%
14.	TYPE OF REPORTING PERSON OO

May 1, 2007

		/s/ Larry E. Morton _____________________________________
		Larry E. Morton


		SANDRA MORTON LIFE TRUST


		/s/ Larry E. Morton _____________________________________
		Larry E. Morton, as Trustee