WABC’s John Catsimatidis Mulls Moving to Florida
As New York City businesspeople prepare for Mayor-elect Zohran Mamdani to assume control of the city, some are saying they will re-locate their businesses from New York City for fear of how Mamdani policies will affect their bottom line. Red Apple Media and WABC owner John Catsimatidis is one of those. He is featured in a piece in Forbes in which he says, “I think a lot
of businesspeople are reducing their exposure to New York City.” He tells Forbes he’s looking for “friendly states.” “The key word is a commonsense place to do business in.” Catsimatidis, whose business interests include Gristedes supermarkets and a controlling share of D’Agostino stores, was irked by Mamdani’s promise of opening “cheap city-run grocery stores” in each of the boroughs. Catsimatidis tells Forbes, “‘We don’t have any profit margins,’ he says, explaining that his stores have been losing money for ‘at least two years.’ He blames the state of the city: ‘Shoplifting is up to an all-time high. A lot of stuff is being closed up, which means that it’s not easy for people to shop, so sales are down.’” Catsimatidis does not talk about his radio businesses in the article but given how much effort he’s put into covering local New York news and his hiring local talk hosts and journalists, it’s hard to imagine him running the radio stations from another state such as Florida. Read the Forbes story here.
piece’s “background” information and premises. In the article, Harrison supports the observation that the sale of EVs constitutes a small fraction of the current automotive marketplace and it will be years before they achieve a critical mass to impact the health of AM radio. In the meantime, Harrison asserted at this morning’s meeting of the TALKERS editorial board, “There are far more immediate existential threats to AM radio, not to mention FM radio, with which the broadcasting industry must contend.” He points out, “Relevance and identity! AM radio being dumped from dashboards is an innocuous thing to worry about. FM radio will be dumped from the dashboard as well… the entire idea of a radio-exclusive appliance is on the verge of obsolescence… and we’re not just talking about electric vehicles – we’re talking about all vehicles! We’re faced with an all-encompassing computer system at the fingertips and voice control of the driver and passengers.” Harrison continues, “In the meantime, today’s media consumers are savvy enough to know how to find their entertainment and information brands via the combination of Bluetooth and smartphone. Thus, the challenge facing both AM and FM radio – two increasingly irrelevant designations – is to maintain the importance, distinguishability and brand of the medium itself – R-A-D-I-O – and not let it get lost in an endless ocean of options available to the potential audience.”