(SQAUK) — Billionaire George Soros, renowned for his substantial political contributions to left-leaning causes, has effectively taken control of a significant portion of the U.S. radio market by acquiring Audacy. This media conglomerate boasts ownership of over 200 radio stations across 40 markets. The acquisition, executed through the Soros-backed Fund for Policy Reform, has raised concerns among Republican lawmakers and FCC commissioners, who argue that the Federal Communications Commission (FCC) has intentionally circumvented established procedures to speed up this deal.
The move comes at a crucial moment with the 2024 elections approaching. Soros, a longtime major donor to progressive causes, is widely perceived to be using his wealth to influence U.S. media in favor of the Democratic Party. Audacy’s stations reach millions of Americans daily, many of whom listen to popular conservative programming; this acquisition raises concerns about potential censorship and the risk of a one-sided narrative dominating public discourse.
Critics of the deal, including prominent Republican commissioners at the FCC like Brendan Carr, have accused the agency of bending the rules to benefit George Soros. Carr, in particular, has been vocal in alleging that the FCC granted unprecedented waivers that allowed Soros to avoid essential national security reviews, typically required when foreign ownership in American media companies exceeds 25%. Opponents argue that this deal sets a dangerous precedent by circumventing these regulations, enabling entities affiliated with Soros to take control of essential media assets without proper oversight.
Carr contends that allowing the acquisition to proceed without a thorough review raises serious concerns about transparency and national security. The waiver granted by the FCC will permit a review later. Still, many Republican lawmakers, including House Oversight Committee members James Comer and Nick Langworthy, argue that this delay is intentional, allowing Soros to exert influence on the airwaves ahead of the upcoming election.
Republican lawmakers have not minced words about the potential impact of this acquisition on the U.S. political landscape. Congressman James Comer, chairman of the House Oversight Committee, has accused the FCC of “bypassing standard processes” to benefit Soros, a prominent Democratic donor. Enabling Soros to control so many radio stations, many of which are located in key electoral battlegrounds, could sway public opinion in favor of Democratic candidates.
Furthermore, conservative commentators fear that the takeover could lead to the silencing of right-leaning voices that dominate talk radio on many Audacy stations. Famous conservative personalities like Sean Hannity, Glenn Beck, and Mark Levin currently broadcast on these stations, and there is concern that these programs could be curtailed or outright replaced with progressive content.
While Republican voices dominate the opposition, some see the Soros-backed acquisition as a positive shift toward balancing media representation. Defenders of the deal argue that the media landscape has long been skewed in favor of conservative talk radio, and this acquisition could introduce much-needed diversity in viewpoints. Audacy filed for bankruptcy earlier this year and sees the Soros-backed restructuring as essential for its survival, allowing it to shed $1.6 billion in debt and emerge as a stronger company.
David Field, the CEO of Audacy, defended the company’s recent acquisition by stating that it is better positioned for future success with the financial support of entities affiliated with George Soros. Field emphasized that Audacy will maintain its focus on sports radio and podcasting to ensure the company remains competitive in the evolving media landscape.
The Soros family’s influence in American politics is not new, but this latest move escalates their efforts to shape the narrative through direct media control. George Soros has long been controversial for his outsized influence in U.S. and global politics, donating hundreds of millions of dollars to left-wing causes through his Open Society Foundations. His son, Alexander Soros, who has taken a more active role in managing the family’s political activities, is expected to be a trustee in the restructured Audacy.
For Republicans, the concern goes beyond mere media ownership. They argue that the Soros-backed group’s acquisition is part of a broader strategy to control the “public square” and push a Democratic agenda, particularly as the 2024 elections approach. They cite Soros’s past support for organizations that have been accused of promoting censorship of conservative voices online and warn that this could extend to the radio airwaves.
Investigations led by the House Oversight Committee are already in progress, and the controversy surrounding Soros’s takeover of media outlets shows no signs of fading. Republican lawmakers are advocating for stricter reviews of foreign ownership in American media, mainly when it involves politically active individuals like Soros. In response, the FCC defends its decision, citing precedents for expedited sales in other media transactions under Democratic and Republican administrations.
Whether this acquisition will significantly change the U.S. media landscape or become a minor detail in the more significant political battles of 2024 remains to be seen. However, the fight over who controls America’s airwaves is far from over.
