The FCC on Wednesday adopted an order to approve Soros’ purchase of of 200 radio stations across 40 markets. The commission’s three Democrats voted for the measure while the two Republican members voted against it.
The Federal Communication Commission (FCC) has reportedly approved a deal fast-tracking Democrat billionaire George Soros’ purchase of over 200 radio stations across the country, bypassing a standard review process, coming just over a month before the election.
The FCC on Wednesday adopted an order to approve Soros’ purchase of 200 radio stations across 40 markets, sources told the New York Post. The commission’s three Democrats voted for the measure while the two Republican members voted against it.
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View on RumbleFCC rules state that foreign company ownership of radio stations in the US should not exceed 25 percent. To make his bid for the purchase, Soros took foreign investment and issued a filing requesting that the commission make an exemption to the standard review process that takes place.
The Post reported that the decision is the first time in modern history that such a deal was approved by the FCC without running a national security review process. This process typically takes up to a year or more to do. The Soros group has said that they will come back to the FCC at some point in the future for that process.
Soros’ investment firm Soros Fund Management bought up $400 million of debt in Audacy in February, making Soros’ stake in the company’s debt equal to about 40 percent.
Audacy runs more than 220 stations nationwide and is the second most popular radio station network behind iHeartMedia. The radio network is home to prominent conservative pundits and commentators, such as Sean Hannity, Dana Loesch, Mark Levin, and Glenn Beck.
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