Mac Mini 10.6.7

Itunes stored on an external drive (Western Digitial ). Found out that I cannot download a song from Itunes to that drive.

Noticed that the permissions on my folder holding Itunes music is set to "read only."

Problem is that I cannot change it. Unlike when I go into a folder on the MacHD where I can click on it and change the options on the WD I can only see it - can't change it.

Went into Disk Utilities for the WD drive but the "verify" and "repair disk permissions" is grayed out.

WD format is FAT32.

Any ideas?