'This is scary': Biden's FCC helps major Dem donor George Soros 'fast-track' takeover of massive radio network: report

Democrat billionaire philanthropist George Soros has been on a mission to complete his takeover of the nation's second-largest radio network, and he is attempting to complete the task with help from the Federal Communications Commission (FCC), largely influenced by Democrats. 

The takeover of Audacy comes right before the 2024 US Presidential Election. The radio network is home to prominent conservative pundits and commentators, such as Sean Hannity, Dana Loesch, Mark Levin, and Glenn Beck. Soros' stake in the company amounts to 40 percent of the company's senior debt amid Audacy's emergence from bankruptcy, sources familiar with the matter told the New York Post. 
 

 
“This is scary,” one Republican source said in regards to the deal. The source added that Soros may be able to impose influence over the more conservative hosts on the network.  
 
Soros's investment firm Soros Fund Management bought up $400 million of debt in Audacy in Feb., which 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 both the FCC Commissioner Brandon Carr as well as 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."  

Roy wrote earlier in April that the Soro-funded group would usually have to petition to have any foreign sources of funding vetted before making such a move, but the exemption could push that “sometime down the road — indicating that those foreign stakeholders will be given ‘special warrants’ in the meantime,”  

Soros Fund Management has made significant strides in the American radio industry over the past two years. In 2022, it brokered both Univision's $60 million sale and made a major cash investment into Crooked Media, a prominent liberal podcast network.  

Last year, Soros acquired far-left Vice Media for $400 million, alongside Fortress Investment Group, after it went bankrupt for embracing woke ideology. Vice Media was once valued at $5.7 billion.  

Additionally, a 2023 study revealed that Soros is responsible for funding at least 54 of the most influential liberal mainstream media figures in the world.