According to a New York Post article, Soros pumped $400 million into the radio outlet Audacy in February. The said network reaches 165 million monthly listeners and includes a handful of conservative shows from hosts including Sean Hannity, Dana Loesch, Mark Levin, Glenn Beck and Erick Erickson.
A source with knowledge of the deal told the news outlet that the idea that "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."
Soros Fund Management needs help from the FCC to take control of the network as the money funneled into buying the bankrupt network comes from abroad. Under existing FCC rules, foreign company ownership of radio stations in the United States is not allowed to exceed 25 percent, but a filing acquired by the Post included a request from Soros asking the commission to make an exception.
In response, FCC Commissioner Brendan Carr said that the FCC should not create a special Soros shortcut. He added that when it comes to a broadcast station acquisition of this size and magnitude, the FCC needs to run its full and normal review process.
"The FCC should not be skipping steps or waiving required agency processes," Carr pointed out.
An alarm about this was first set off by Rep. Chip Roy (R-TX) in April. He said that this transaction, which affects radio stations that reach millions of listeners across the U.S., should, at minimum, be subject to rigorous FCC oversight to ensure U.S. radio stations are not subject to undue influence.
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"Audacy owns more than 220 local radio stations in over 40 markets and is the second-largest American radio group behind iHeart," a press release from Roy's office read. "The Soros group says that skipping the foreign ownership review at this time will enable the FCC to expedite its approval of the Soros applications and thus allow them to more quickly realize their ownership interests in, and take the reins at, these hundreds of local radio stations across the country." (Related: Texas congressman slams George Soros over his acquisition of radio giant Audacy.)
He had earlier written the Soros group would usually petition to get its foreign funding sources vetted by the FCC first, but that they are trying to waive that process and put it off "until sometime down the road, indicating that those foreign stakeholders will be given 'special warrants' in the meantime."
Meanwhile, critics believe the FCC's influence is likely to be muted once the billionaire takes over and imposes his agenda, as he did with other media acquisitions.
Sources told the Post that Soros' stake is equal to about 40 percent of the company's senior debt, a massive chunk which, although not a majority, could yield effective control of the media giant when it emerges from bankruptcy.
Media watchdog: Soros spent $80 million to "silence" Americans
The timing of the deal, just months before the 2024 presidential election, has raised eyebrows all across the United States. One insider said he felt it possible Soros was buying the stake to exert influence on public opinion in leading up to the election. "This is scary," the source said at the time.
In fact, a new report by the media watchdog Media Research Center (MRC) indicated that Soros gave over $80 million to affiliated groups calling for "censorship" ahead of November’s critical election.
"One of the wealthiest men in the world is using his vast wealth and power to silence regular Americans ahead of the 2024 election. At a time when defending free speech is key, leftists are trying their best to shut down the voices of half of America, especially those who disagree with the radical agenda promoted by Biden, Soros and most Big Tech executives," MRC Free Speech America Vice President Dan Schneider told Fox News Digital.
Last month, Free Press boasted about a letter urging executives at Discord, Google, Instagram, Meta, Pinterest, Reddit, Rumble, Snap, TikTok, Twitch, Twitter and YouTube to keep online platforms "safe and healthy" in 2024 through six specific "interventions." The letter was signed by 200 civil society organizations, researchers and journalists. However, MRC found that "at least 45 of the signatories have had their coffers packed with Soros cash to the tune of a whopping $80,757,329 between 2016 and 2022 alone."
"It appears its true design is to pressure Big Tech companies to silence speech the left despises as 60 countries across the globe gear up for their elections in 2024," MRC associate editor Joseph Vazquez wrote. "But even more disturbing was the letter's implication that its primary target is interfering in the 2024 U.S. election. This development is directly in line with Soros’ brand, who has dedicated millions of his ungodly fortune to groups looking to interfere in elections by stifling online speech."
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Globalism on the airwaves: Soros fund now bankrolling radio stations.
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