The Federal Communications Commission (FCC) has expedited its decision to approve a deal allowing Democrat megadonor George Soros to acquire a major stake in over 200 radio stations<\/p>\n
Fox News reported that the move has prompted an investigation by the House Oversight Committee, which is concerned about potential \u201cpoliticization\u201d and its impact on the 2024 presidential election.<\/p>\n
The FCC\u2019s approval of Soros\u2019 acquisition of more than 200 Audacy radio stations has drawn criticism from a Republican commissioner who has expressed objections to the decision, as well as other GOP members of Congress who see the move as blatantly partisan.<\/p>\n
The FCC last week \u201cadopted an order to approve Soros\u2019 purchase of more than 200 radio stations in 40 markets just weeks before the presidential election,\u201d which would allow him to reach up to 165 million Americans.<\/p>\n
House Oversight Committee Chairman James Comer (R-Ky.) and Rep. Nick Langworthy (R-N.Y.) have accused the FCC of expediting its review of broadcast licenses by bypassing standard procedures.<\/p>\n
In response, Comer and Langworthy have sent a letter to FCC Chair Jessica Rosenworcel, requesting documents and communications to clarify the rationale behind the FCC\u2019s expedited decision.<\/p>\n
Audacy Inc. owns over 200 radio stations. Soros is seeking to acquire $415 million in debt in a Chapter 11 reorganization of the company, Fox reported.<\/p>\n
Comer and Langworthy warned that Soros is a financier of organizations \u201cadvocating for speech restriction and censorship of conservatives online.\u201d They added: \u201cHe will ultimately become a \u2018major\u2019 shareholder when the bankruptcy deal concludes.\u201d<\/p>\n
The two Republican lawmakers also warned that Soros has \u201csought to consolidate control over the airwaves.\u201d<\/p>\n
\u201cFor example, Soros Fund Management is investing in podcast platforms and purchasing radio stations in major media markets, which has ramifications for what Americans hear and influences political dialogue in this country,\u201d they wrote. \u201cIndeed, 31 percent of all media consumption in the United States consists of audio, even more than television consumption at 24 percent.\u201d<\/p>\n
Comer and Langworthy said that the Audacy deal would lead to the company being \u201cdirectly or indirectly controlled\u201d by \u201cforeign individuals or entities holding more than one-fourth of the capital stock.\u201d The deal would require FCC approval to determine whether \u201cthe public interest will be served by the refusal or revocation of such license.\u201d<\/p>\n
\u201cIn carrying out this statutory mandate under the Communications Act, FCC has years-long established processes and procedures for adjudicating broadcast licenses in such situations, most recently updated in 2016,\u201d they wrote.<\/p>\n
The lawmakers pointed out that during a committee hearing, FCC Commissioner Brendan Carr highlighted the agency\u2019s rules regarding foreign ownership of radio stations. Carr noted that in this instance, the FCC deviated from its standard process for reviewing such transactions.<\/p>\n
\u201cCommissioner Carr further noted that \u2018the full commission itself has never signed off on a shortcut like this. What we usually do is we require people to file a petition with us. We bring in national security agencies, they can review the foreign ownership\u2026 Here, they\u2019re trying to do something that\u2019s never been done before at the commission level,\u2019\u201d they wrote, adding that Carr \u201cnoted that the national security review could take \u20183 to 4 to 5 to 6 months\u2019 saying further that \u2018[i]t looks like we got the cart before the horse this time.\u2019\u201d<\/p>\n
Comer and Langworthy said that \u201cdespite 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 \u2018more than 165 million Americans.\u2019\u201d<\/p>\n
\u201cBy all appearances, the FCC majority isn\u2019t just expediting, but is bypassing an established process to do a favor for George Soros and facilitate his influence over hundreds of radio stations before the November election,\u201d they wrote.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Federal Communications Commission (FCC) has expedited its decision to approve a deal allowing Democrat megadonor George Soros to acquire a major stake in over 200 radio stations Fox News reported that the move has prompted an investigation by the House Oversight Committee, which is concerned about potential \u201cpoliticization\u201d and its impact on the 2024…<\/p>\n