FCC Fast-Tracks George Soros Radio Network Buyout

(RightWing.org) – Billionaire George Soros is one of the Democratic Party’s biggest donors. The businessman is often cited as one of the people to blame for the infiltration of soft-on-crime district attorneys across the country. New reporting indicates the leftist is poised to take over the second-largest radio network in the nation just months before voters head to the polls to choose the next president.

Major Purchase

In February, news broke that the Soros Fund Management purchased $400 million of debt in Audacy. The radio broadcaster owns iHEARTMEDIA, Los Angeles-based KROQ, New York’s 1010 WINS and WFAN, and hundreds of other stations. It’s also the home to several conservative talk shows hosted by Sean Hannity, Dana Loesch, Erick Erickson, and others. That was about 40% of the company’s debt and although it wasn’t a majority share, experts said the Democratic billionaire would have a significant amount of control.

At the time, the New York Post reported a Republican close to the situation expressed concern that Soros was trying to purchase the company to help sway public opinion ahead of the 2024 election. He said, “This is scary.”

Audacy filed for bankruptcy in January and reported it has $1.9 billion of debt. The company confirmed Soros’ investment in the radio broadcaster.

Radio Takeover

New reporting indicates Soros is now attempting to convince the Democrats on the Federal Communications Commission (FCC) to fast-track approval for his purchase of the massive chunk of debt. The federal agency has to help the Soros Fund Management in the endeavor because the money used to purchase the debt came from overseas. Under current FCC laws, a foreign company is not allowed to own more than a 25% stake in US radio stations.

A source told the Post the claim that Soros would purchase hundreds of radio stations and continue broadcasting conservative radio hosts on Audacy platforms was “not credible.” There’s a concern that the FCC, controlled by Democrats, would allow the billionaire to take over the media company and then he would move to mute the conservative voices.

In April, Rep. Chip Roy (R-TX) sounded the alarm about the potential implications. The congressman claimed Soros was trying to push the purchase of the company through quickly to influence Americans through their radio.

FCC Commission Brendan Carr, the senior Republican on the commission, confirmed reports. He said, “The FCC should not create a special Soros shortcut,” and said the purchase needs to go through the normal process.

Democrats faced allegations that they used their influence in the 2020 election to censor conservative reporting on social media platforms.

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