Rapid Approval of Soros Major Radio Station Deal Triggers Alert

Shaking hands on deal

The Federal Communications Commission’s fast-tracked approval of George Soros’s acquisition of over 200 radio stations raises concerns about foreign influence and media control.

At a Glance

  • Soros Fund Management acquired over $400 million in debt from Audacy, the second-largest broadcast radio station owner in the U.S.
  • The FCC approved the deal through a partisan vote: three Democrats in favor, two Republicans against.
  • This marks the first time such a deal was approved without a national security review.
  • Critics argue the expedited process disregards the traditional foreign ownership evaluation process.
  • The timing of the deal, ahead of the 2024 presidential election, raises concerns about influencing public opinion.

Controversial Fast-Track Approval

In a move that has sent shockwaves through conservative circles, the Democrat-controlled Federal Communications Commission (FCC) has approved a deal allowing George Soros, a prominent left-wing donor, to acquire over 200 radio stations across 40 U.S. markets. This decision, made through a partisan 3-2 vote, marks an unprecedented departure from standard procedures, bypassing the usual national security review for foreign ownership.

The deal involves Soros Fund Management’s acquisition of more than $400 million in debt from Audacy, the nation’s second-largest radio network, which is currently undergoing Chapter 11 bankruptcy reorganization. This transaction has raised red flags among conservatives who fear it could lead to a significant shift in media control just ahead of the crucial 2024 presidential election.

Concerns Over Foreign Ownership and Influence

At the heart of the controversy is the FCC’s apparent willingness to circumvent established protocols for reviewing foreign ownership of U.S. media assets. Section 310(b)(4) of the Communications Act explicitly limits foreign ownership of radio station licenses to 25 percent. However, the Soros group has acknowledged that their foreign ownership will exceed this limit, yet they’ve requested a waiver of the usual petition for declaratory ruling process.

“The FCC should not create a special Soros shortcut,” FCC Commissioner Brendan Carr told The New York Post this week.

This departure from standard procedures has alarmed many, including Republican FCC commissioners and members of Congress. They argue that such a significant acquisition demands thorough scrutiny, especially given Soros’s well-known political leanings and financial influence in left-wing causes.

Potential Impact on Conservative Media

Critics of the deal express deep concerns about its potential impact on conservative voices in radio. The swift approval process and the scale of the acquisition have led many to question whether Soros intends to reshape the media landscape according to his political agenda.

“The idea that George Soros is buying hundreds of local radio stations right before a national election and will keep broadcasting Sean Hannity and other conservative talk radio hosts on Audacy is not credible.”

This sentiment echoes throughout conservative media circles, where there’s a growing fear that the deal could lead to a significant shift in content and programming across the acquired stations. The timing of the acquisition, so close to a major election, only amplifies these concerns.

Calls for Transparency and Due Process

As the controversy unfolds, there are increasing calls for transparency and adherence to established regulatory processes. FCC Commissioner Nathan Simington criticized the hasty nature of the approval, stating, “Commission leadership tried to approve the item at the staff level, with nothing but a 48-hour notice to Commissioners on a summer Friday. There is almost no factual record on the item because there was almost no attempt to do a real public interest analysis.”

“It seems to me that the FCC is poised to create — for the first time — an entirely new shortcut.” – Brendan Carr

As this situation continues to develop, it remains crucial for the public and regulatory bodies to demand a thorough and transparent review process. The integrity of our media landscape and the principles of fair competition in broadcasting are at stake. Conservative voices must remain vigilant and active in ensuring that this unprecedented move does not result in the silencing of diverse perspectives in American media.

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