GR US

Greek-American Billionaire John Catsimatidis Purchases 77 WABC-AM Radio for $12.5 Million

The National Herald

John Catsimatidis. talks to the media during a news conference on the steps of City Hall in New York, Tuesday, Jan. 29, 2013. Catsimatidis announced his intention to run for New York City mayor. (AP Photo/Seth Wenig, file)

NEW YORK - Greek-American billionaire John Catsimatidis continues his foray into media with is latest acquisition, 77 WABC-AM Radio. According to GlobeSt.com, Catsimatidis closed the all-cash deal for a fee of $12.5 million from Cumulus Media.

This isn't the first radio endeavor for the Gristedes and United Metro Energy owner as Catsimatidis hosts the radio program, "The Cats Roundatable" on AM-970 which has been running for five years now and is available for listeners in 14 states.