Several advertisers have withdrawn their business from New York's Hot 97, WQHT-FM, after the station broadcast a sick parody song that mocked victims of the Asian tsunami disaster.

Last month, the station suspended the entire staff of its breakfast show after a song that sampled the melody of the famine relief single We Are The World aired with the lyrics: "Go find your mommy / I just saw her float by / a tree went through her head / and now the children will be sold to child slavery."

On February 3, the station fired the show's producer Rick Del Gado and co-presenter Todd Lynn. The station's parent company, Emmis Communications, also announced that it was donating $1m (around £530,000) plus two weeks' salary from the disgraced members of staff to the Give2Asia charity.

The latest development occurred on Friday, when news-magazine Newsday pulled its advertising from the morning show on the station, saying that "of deep respect for everyone who was offended by this song we have decided not to air our commercials during Hot 97's morning show while station management works toward a satisfactory resolution."

Toyota, McDonalds and phone provider Sprint have already pulled their ads from the station.

At midday ET on Monday, a coalition of Asian groups will be protesting outside the station's offices in Manhattan, demanding that Emmis donates a further $9m to the tsunami aid effort.

"We demand that Emmis Communcations accept responsibility," said John Liu, a member of the New York City council. "They chose to profit from hate, and they need to pony up."