Biden's FCC allows Soros to buy 200 radio stations nationwide
- George Soros is attempting to acquire 200 radio stations across 40 markets, leveraging significant foreign investment despite existing ownership limits.
- The FCC has deviated from its standard review process, which typically involves national security assessments for foreign ownership, to expedite this transaction.
- Concerns have been raised about the implications of this acquisition, suggesting it may lead to increased leftist propaganda on local airwaves.
In early January 2023, a significant transaction involving George Soros emerged as he sought to purchase 200 radio stations across 40 different markets. This move is backed by substantial foreign investment, which raises concerns due to the Federal Communications Commission's (FCC) longstanding 25% limit on foreign ownership of radio stations. The acquisition comes in the wake of Soros Management Fund's purchase of a considerable portion of Audacy's debt, which had filed for Chapter 11 bankruptcy protection due to overwhelming debt levels. The FCC's decision to expedite the review process for this transaction has sparked controversy. Traditionally, such transactions would undergo a thorough review involving national security agencies to assess foreign ownership implications. However, the FCC appears to be creating a new shortcut for this particular case, which has alarmed several lawmakers and industry experts. Critics argue that this deviation from established procedures is indicative of favoritism towards Soros, a prominent donor to left-leaning causes. They express concerns that this acquisition could lead to a significant increase in leftist propaganda on local radio stations, potentially altering the media landscape. As the situation unfolds, the implications of this transaction on the political and media environment remain a topic of heated debate, with many questioning the integrity of the FCC's decision-making process.