  In this article we study a pp-wave limit of the Lunin-Maldacena background.
We show that the relevant string theory background is a homogeneous pp-wave. We
obtain the string spectrum. The dual field theory is a deformation of N=4 super
Yang-Mills theory. We have shown that, for a class of operators, at O(g_{YM}^2)
and at leading order in N, all contributions to the anomalous dimension come
from F-terms. We are able to identify the operator in the deformed super
Yang-Mills which is dual to the lowest string mode. By studying the undeformed
theory we are able to provide some evidence, directly in the field theory, that
a small set of nearly protected operators decouple. We make some comments on
operators in the Yang-Mills theory that are dual to excited string modes.
