‘This is scary’: Biden’s FCC helps major Dem donor George Soros ‘fast-track’ takeover of massive radio network: report

Democrat billionaire philanthropist George Soros has been on a mission to complete his takeover of the nation's second-largest radio network, and he is attempting to complete the task with help from the Federal Communications Commission (FCC), largely influenced by Democrats. 

The takeover of Audacy comes right before the 2024 US Presidential Election. The radio network is home to prominent conservative pundits and commentators, such as Sean Hannity, Dana Loesch, Mark Levin, and Glenn Beck. Soros' stake in the company amounts to 40 percent of the company's senior debt amid Audacy's emergence from bankruptcy, sources familiar with the matter told the New York Post. 

“This is scary,” one Republican source said in regards to the deal. The source added that Soros may be able to impose influence over the more conservative hosts on the network.  
 
Soros's investment firm Soros Fund Management bought up $400 million of debt in Audacy in Feb., which runs more than 220 stations nationwide and reaches 165 million monthly listeners. To complete the acquisition, Soros needs an exemption from the FCC, since the money being used to buy the bankrupt network comes from abroad. Current FCC laws state that foreign ownership of US radio stations is not allowed to exceed 25 percent, per the New York Post.  


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