A House investigation into George Soros’ media influence sparks controversy as the FCC fast-tracks a radio station acquisition deal.
At a Glance
- House Oversight Committee probes FCC’s expedited approval of Soros-backed radio station acquisition
- Soros-linked group gains control of Audacy Inc., a major radio company facing financial difficulties
- FCC Commissioner Brendan Carr expresses concerns over unusual review process
- Republicans question potential impact on media landscape before presidential election
- Critics argue deal grants excessive influence to liberal billionaire Soros
House Oversight Committee Launches Investigation
The U.S. House Oversight Committee has initiated an investigation into the Federal Communications Commission’s (FCC) expedited approval of a deal allowing billionaire Democratic donor George Soros to acquire numerous American radio stations before the upcoming presidential election. This move has raised eyebrows among conservative lawmakers and media watchdogs, who question the potential impact on the media landscape.
At the center of the controversy is Audacy Inc., a major radio company that recently faced financial difficulties. Through a complex business deal, a Soros-backed investment group reportedly became the largest Audacy stakeholder by acquiring 40% of its debt. This transaction has sparked concerns about foreign ownership and influence in American media.
How is this legal?
Grok 2: The legality of George Soros's acquisition of over 200 radio stations through Audacy Inc. has been a subject of scrutiny and controversy, particularly around the role of the Federal Communications Commission (FCC) and its procedures. Here's a breakdown… https://t.co/64RgYWXB9Q— Sunny (@sunny_sunnykim) January 17, 2025
FCC Commissioner Brendan Carr has voiced apprehensions about the Commission’s handling of this transaction. In a statement, Carr said, “The FCC is not following its normal process for reviewing a transaction.”
He further elaborated on the unusual nature of the approval process, stating, “We have established over a number of years one way in which you can get approval from the FCC when you have an excess of 25 percent foreign ownership, which this transaction does. It seems to me that the FCC is poised to create, for the first time, an entirely new shortcut.”
The FCC’s decision, made with a party-line vote of 3-2 by Democratic members, included temporarily waiving the required national security review and allowing foreign ownership of American radio stations that exceeds typical limits. This has led to accusations of preferential treatment and raised questions about the potential implications for media diversity and fairness.
Republican Lawmakers Demand Answers
House Oversight Chair Rep. James Comer (R-Ky.) and Rep. Nick Langworthy (R-N.Y.) have sent a letter to FCC Chair Jessica Rosenworcel, questioning the expedited approval and suggesting it favors Soros.
In their letter, they stated, “Despite the unprecedented nature of this action, the FCC majority has apparently decided to approve licenses on an accelerated timeframe for a company in which George Soros has a major ownership stake, and with stations in 40 media markets reaching ‘more than 165 million Americans’.”
Could this be the end of Soros’ media trickery?
