Texas congressman criticizes George Soros for buying Audacy radio stations

Rep. Chip Roy accuses Soros of trying to expedite Audacy purchase through FCC, potentially controlling 220 radio stations across the US.

U.S. Rep. Chip Roy (R-TX) has raised concerns about George Soros' attempt to expedite his purchase of radio giant Audacy through the Federal Communications Commission (FCC). Soros Fund Management (SFM) has purchased around $40 million of Audacy's $1.9 billion liabilities, potentially giving Soros control over more than 220 radio stations nationwide.

In a letter obtained by Fox News, Roy criticized SFM and other groups for seeking FCC approval for the ownership change in Audacy without following the usual statutory processes. Roy emphasized the need for rigorous FCC oversight to prevent undue influence on U.S. radio stations that reach millions of listeners, including those in his district.

Roy pointed out that instead of going through the standard petition for declaratory ruling process, the Soros group has requested the FCC to waive the procedure and delay it, hinting at special treatment for foreign stakeholders in the meantime.

The congressman highlighted Soros' growing influence in the radio industry, raising concerns about the potential implications for the U.S. political system. The deal could make Soros a part-owner of broadcasters in 45 states, impacting local and regional elections as well as the upcoming 2024 election.

Audacy, facing financial challenges with $1.9 billion in debt, filed for bankruptcy in January. SFM's acquisition of a significant portion of Audacy's debt has positioned it as the largest shareholder. This move follows SFM's involvement in acquiring VICE Media after its bankruptcy in 2023.

To expedite the approval process, Roy urged federal officials to grant Audacy a temporary exemption from existing FCC rules limiting foreign ownership to 25 percent. If the deal goes through, Soros would have a stake in 227 radio stations, including CBS Radio, and TV channels in San Francisco and New York City.

The impact of Soros' increasing media ownership has raised concerns about his influence on politics and elections in the U.S. This development has sparked speculation about potential campaign tools and election influence at various levels.

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In conclusion, the ongoing saga of Soros' media acquisitions underscores the need for transparency and accountability in the media landscape. The potential implications of his control over radio stations across the country warrant careful consideration and vigilance to safeguard the integrity of the U.S. political system.