Democrat billionaire philanthropist George Soros has opted to buy Audacy, a radio network that has prominently aired conservatives like Mark Levin, Glenn Beck, Erick Erickson, and Dana Loesch.
Audacy reports that he is pushing to take it over sooner rather than later; in other words, before the election.
The one place Republicans and Conservatives can get their voice heard is radio, and now Soros, who bought up Spanish-speaking right-leaning radio stations, is buying the second-largest right-leaning radio network.
Soros, a notoriously left-wing investor, bought up about 40% of the company’s debt as it emerged from bankruptcy.
.@NEWSMAX CEO/Founder @ChrisRuddyNMX talked to @SpeakerTimJones and @chris_arps about the dangers of George Soros buying @Audacy radio and the damage he’s already caused with one conservative talk radio station he bought in Miami
FULL CHAT https://t.co/RnCEBZGSts#STL #stlradio pic.twitter.com/zbvTfqQeE6
— NewsTalkSTL (@NewstalkSTL) June 12, 2024
THE WAIVER TO RUSH THE SALE
The FCC is potentially helping him complete the sale before the election by waiving a rule.
Globalist billionaire George Soros is asking the FCC to waive its rule on foreign ownership of U.S. radio stations so he can quickly buy the Audacy radio empire, which is second in the number of stations only to iHeart radio.
Soros’s investment firm, Soros Fund Management, bought up $400 million of debt in Audacy in February. Audacy runs more than 220 stations nationwide and reaches 165 million monthly listeners. To complete the acquisition, Soros needs an exemption from the FCC since the money being used to buy the bankrupt network comes from abroad. Current FCC laws state that foreign ownership of US radio stations is not allowed to exceed 25 percent, per the New York Post.
Soros Fund Management filed for an exemption to the rule, and FCC Commissioner Brandon Carr and Rep. Chip Roy (TX-R) sounded the alarm on the deal.
Carr asserted that the FCC “should not create a special Soros shortcut.”
“When it comes to a broadcast station acquisition of this size and magnitude – hundreds of radio stations across more than 45 markets – the FCC needs to run its full and normal review process,” Carr added. “The FCC should not be skipping steps or waiving required agency processes.”
In 2022, Soros Fund Management brokered Univision’s $60 million sale and invested in Crooked Media, a left-wing podcast.
Last year, Soros acquired far-left Vice Media for $400 million alongside Fortress Investment Group. Vice Media was once valued at $5.7 billion.
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