Continuing to sell off stations to reduce debt, Cumulus Media has inked a deal to hand over talk WABC New York (770) to Red Apple Media for $12.5 million in cash. Red Apple is headed by chairman John Catsimatidis, who hosts the syndicated “Cats Roundtable Radio Show.” Calling the purchase the “next step in building a new broadcasting business,” Catsimatidis says he plans to “retain the excellent staff and talent working at the station now.” The sale leaves Cumulus with only one station in the New York market—“Radio 103.9” WNBM, an urban AC licensed to Bronxville, NY. Cumulus earlier sold...