Promises to double his profits
Two days after CNN CEO Chris Licht stepped down amid intense criticism of his leadership, Greek-American billionaire John Katsimatidis is announcing his intention to buy the network . Under his management, CNN will be able to double its profits very soon, he claims.
“I'd go run the place tomorrow morning and all I want is a (salary) of $1 a year and a share of the profits,” Katsimatidis told the New York Post.
The expatriate tycoon of supermarket didn't give details about its offer to buy CNN, but sufficed to say that financing the deal won't be a problem, as Business Insider reports.
“It is the job of investment bankers to put down the numbers,” he said. “We could put in partners, but I want to run the place. We can invest a significant amount of money”.
“You heard it here first. I'm going to make an offer to buy CNN,” Katsimatides told 77 WABC, the radio station he bought in 2019 for $12.5 million.
Katsimatides, who has a fortune of 4.1 billion dollars and is the 702nd richest person in the world, he claimed that he can double CNN's profits in a short period of time.
According to the 74-year-old tycoon, removing Licht was a bad decision. “They fired the guy for bringing up Donald Trump. This is the craziest thing in the world,” he said. The former CNN CEO was criticized for holding an open debate with Trump in May in New Hampshire, upsetting the network's core audience.
Katsimatidis, the son of Greek immigrants from Nisyros, was in the US when she was a baby. He started as a clerk in a grocery store and today operates the Gristedes and D'Agostino supermarket chains, has a very large real estate portfolio and an oil company.
After his failed bid to be elected mayor of New York (he said (who will be mayor of both Harlem and Wall Street), maintains an interest in American politics, with large donations to the Republican party and frequent political commentary.
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