Posted on 07/04/2023 12:24:12 PM PDT by lasereye
Another billionaire has added a media company to his wishlist: John Catsimatidis, the chairman and CEO of grocery chains Gristedes Foods and D'Agostino Supermarkets. He’s telling news outlets he’d be willing to purchase CNN from Warner Bros. Discovery.
“I’d go run the place tomorrow morning, and all I’d want is $1 per year and a piece of the upside,” the grocery mogul, told the New York Post.
Catsimatidis’ comments follow a difficult year for the media outlet, which has faced declining viewership and turnover in the C-suite. Chief executive Chris Licht was let go after a brief one-year stint as head of the company and a disastrous town hall with Donald Trump that the network’s most lauded reporters roundly criticized. David Zaslav, the chief executive of parent company Warner Bros. Discovery and cited as Licht’s strongest backer, is now looking for a replacement to turn the struggling company around.
And given the opportunity, Catsimatidis says he could run CNN better.
In an interview with Fox Business’ Maria Bartiromo, the grocery CEO said he believed he could quadruple viewership rapidly.
“CNN only has, what, 400,000 viewers every night,” he said. “I told them … I’ll have it up to 2 million in one year.”
Catsimatidis also indicated that he’d be willing to consider joint ventures to finance the deal and that he could “double the profits” relatively quickly if given control.
His strategy would include making the content more bipartisan in an effort to broaden viewership — though his lack of televised media experience and highly partisan views raise inevitable doubts.
Born in Greece and raised in New York, Catsimatidis is an entrepreneur, politician and radio show host. Besides grocery stores, his holdings include a real estate firm, an aviation company, an oil refinery and the Hellenic Times newspaper.
(Excerpt) Read more at finance.yahoo.com ...
He isn’t just a radio host, he owns the station WABC in NY if I recall.
Thanks....
They say he has no media experience but he owns Hellenic News.
His daughter, Andrea, would host all the shows. Bound to go up
“Roger Ailes had it right, the execrable Murcocks ruined it.”
Yep, this is right.
CNN has a sizable viewerbase in restaurants and airport lounges everywhere. Everyone knows that they’re trash. All they gotta do is fire the entire staff, replace it with Fox News rejects and it will take off like a phoenix.
WABC is owned by the ABC network.
He owns WABC talk radio.
Cat bought WABC radio from Cumulus Media in 2020.
No, Cats only took over 77 in early 2019.
CNN could switch formats to Greek talk radio.
Ok thanks
Or he could bring over his current talk radio hosts Greg Kelly, James Golden, Rudy Giuliani, Mark Levin, Mark Simone...etc.
However, such is not likely the case.
You could make a fortune if you did not hire any Democrats.
Their first priority is the party or the party narrative.
Deliver the facts and data. no SJW crap.
let people decide.
Have handsome presenters and girls with big tits
If they are honest and just tell the facts as they have them.
No trying to “Improve” the world,
YOU would make a fortune.
It is up to us to improve the world.
Not some idealistic “Journalist” twisting facts and data.
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