John Catsimatidis/ photo courtesy of Red Apple Group
NEW YORK CITY—Billionaire John A. Catsimatidis, the chairman and CEO of Red Apple Group, has reached an agreement to buy WABC-AM radio from Cumulus Media for $12.5 million in an all-cash deal.
“I am very pleased that Red Apple Media Inc. has agreed to acquire 77 WABC-AM radio. The station is a real New York legend with a rich history in broadcasting,” says Catsimatidis. “Our purchase of 77 WABC-AM radio is the next step in building a new broadcasting business.”
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
