The Federal Communications Commission has expedited a decision to allow Democratic megadonor George Soros to acquire large stakes in more than 200 radio stations. The move is being investigated by the House Oversight Committee amid concerns of “politicization” and interference in the 2024 presidential election.
The FCC appears to have approved a deal approving left-wing billionaire George Soros' acquisition of more than 200 Audacity radio stations across the country, infuriating Republican commissioners who voted “no.”
George Soros moves closer to taking control of 200 radio stations despite opposition from Trump-appointed FCC commissioner
The New York Post reports that the FCC last week “adopted an order approving Mr. Soros' acquisition of more than 200 radio stations in 40 markets just weeks before the presidential election,” and that the far-left kingmaker has a $165 million It was first reported that it may be possible to reach more than humans. Americans in a time of crisis.
George Soros, a Hungarian-born American investor and donor to the Democratic Party, wrote an op-ed in 2007 criticizing the United States and Israel for not recognizing Hamas' elections in Palestine. (Photo by FABRICE COFFRINI/AFP via Getty Images)
According to House Oversight Committee Chairman James Comer (R-Ky.) and Rep. Nick Langworthy (R-New York), the FCC is expediting the required review of broadcast licenses by bypassing standard procedures and processes. It is said that it has become
Mr. Comer and Mr. Langworthy sent a letter to FCC Chair Jessica Rosenworcel requesting documents and communications to help them understand the agency's actions.
Audacy Inc. owns more than 200 radio stations. Soros is buying $415 million in debt in a Chapter 11 reorganization.
Comer and Langworthy warned that Soros is a funder of groups that “advocate for restricted speech and censorship of conservatives online.”
“He will ultimately become a 'major' shareholder once the bankruptcy transaction is completed,” they wrote.
But Mr. Comer and Mr. Langworthy warned that Mr. Soros is “trying to tighten control of the airwaves.”
“Soros Fund Management, for example, is investing in podcast platforms and acquiring radio stations in major media markets. This is influencing what Americans hear and influencing the political dialogue in this country.” they wrote. “In fact, 31 percent of all media consumption in the U.S. consists of audio, even more than the 24 percent of television consumption.”
Chip Roy warns about George Soros' purchase of Radio Giant Order
Mr. Comer and Mr. Langworthy said that the Audacy transaction meant that the company was partially “controlled, directly or indirectly,” by “a foreign person or entity owning one-fourth or more of the capital.” He said it would be.
FILE – The Federal Communications Commission (FCC) seal is seen before the FCC meeting to vote on net neutrality in Washington, Dec. 14, 2017. The Federal Communications Commission bans robocalls that include voices generated by artificial intelligence. This decision sends a clear message that technology cannot be misused to deceive people and mislead voters. (AP Photo/Jacqueline Martin, File)
The agreement requires FCC approval to determine “whether the denial or revocation of such license is in the public interest.”
“In carrying out this legal obligation under the Communications Act, the FCC has long established processes and procedures for awarding broadcast licenses in such situations, most recently updated in 2016,” they wrote. I'm writing.
WASHINGTON, DC – April 11: House Oversight and Accountability Committee Chairman James Comer (R-KY). (Anna Moneymaker/Getty Images)
Lawmakers noted that during a committee hearing, FCC Commissioner Brendan Kerr pointed to FCC rules regarding foreign ownership of radio stations and how the FCC in this case did not “follow its normal process for reviewing transactions.” It reminded me of.
“Commissioner Kerr further stated, “The full committee itself has never approved a shortcut like this. What we normally do is ask the public to submit a petition. , and they can review foreign ownership…Here they are trying to do something that has never been done before at the committee level,” he wrote, adding that Kerr said “national security He added that the review of coverage could take “three to four to five to six months.'' (i) It seems like you're putting the cart before the horse this time. ”
“Despite the unprecedented nature of this action, the FCC majority clearly believes that George Soros holds a major stake and that broadcasters in 40 media markets are “It appears that the government has decided to approve licenses ahead of schedule for companies that have reached a large number of access points.” More than 165 million Americans. ”
“No matter how you look at it, the FCC majority is not just in a hurry, they are bypassing established processes to curry favor with George Soros ahead of the November election, and to increase Soros' influence over hundreds of radio stations. “Trying to promote power,” they wrote.
Nick Langworthy MP. (Getty Images)
Comer and Langworthy have requested records from January 7, 2024 to the present, giving the FCC an October 3 deadline.
A Soros spokesperson did not immediately respond to Fox News Digital's request for comment.
An FCC spokesperson told FOX News Digital that they received Comer's letter and “will respond as usual.”
Regarding the Audacy transaction, an FCC spokesperson told Fox News Digital that Audacy's “filing with the Commission relates to a transfer from Audacy in bankruptcy to Audacy post-bankruptcy.”
“No decision is final until announced by the European Commission, which we have not yet done,” the spokesperson said. “Committee-level releases are available on the main page of the Commission's website. More generally, the Commission has a long-standing process for reviewing transactions involving restructuring out of bankruptcy.”
The licenses in question will not be transferred to Soros, but will be transferred from Audacity as debtor to New Audacity, the people said. Mr. Soros will be a “major shareholder,'' but he will not be an “owner.''
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Some within the FCC disagree, saying the move was some kind of shortcut or “fast track” for Soros, following the bankruptcy proceedings of Cumulus Media in 2018 and iHeart Media in 2019. points to a process similar to that used under the previous administration. Liberman Television in 2019, Fusion Connect in 2019, Windstream Holdings in 2020, America-CV Station Group in 2021, and Alpha Media in 2021.
Fox News' Brian Flood contributed to this report.
