WABC/New York Sale Closes, Red Apple Media Takes Over

Deal Closes

CUMULUS MEDIA INC. has closed on the sale of News-Talk WABC-A/NEW YORK to JOHN CATSIMATIDIS' RED APPLE MEDIA, INC for $12.5 million.

“We look forward to working with this legendary New York staple radio station with all of its employees and talent,” said CATSIMATIDIS. “It is exciting for our company to be stepping into the broadcasting industry with WABC as the anchor for our growing media assets.”

WABC VP/Market Manager CHAD LOPEZ said, “This is truly a great day for 77 WABC, its listeners and advertising partners. We’re thrilled that JOHN CATSIMATIDIS, a true New Yorker, has acquired WABC and are excited to move forward together into the bright future of talk radio in NEW YORK CITY. JOHN’s passion for radio, along with his appreciation of the rich history of the station, makes this partnership ideal as we work together to give NEW YORK CITY what it deserves: the best News-Talk station in the city.”

PD DAVE LABROZZI added, "JOHN CATSIMATIDIS shares the same vision and passion for building WABC, and having him join us is going to be such a great asset for this station. We know this new step for WABC will help the station achieve its highest potential."

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