GOP Raises Alarm Over Soros-Linked Audacy Deal

George Soros’s nonprofit acquires major stake in over 200 radio stations, raising GOP concerns about media bias.

At a Glance

FCC expedited approval for Soros-backed group to acquire Audacy, owner of 200+ radio stations.
GOP lawmakers criticize lack of thorough national security review in the process.
Concerns raised about potential media bias and influence on 2024 election.
Republicans call for increased conservative investment in media to counterbalance.

FCC’s Expedited Approval Sparks Controversy

The Federal Communications Commission (FCC) has come under fire for fast-tracking a decision allowing a nonprofit backed by George Soros to acquire a major stake in Audacy, a radio broadcaster owning over 200 stations across the United States. This move has ignited a firestorm of criticism from Republican lawmakers who argue that the expedited process bypassed crucial national security reviews and could potentially impact the 2024 presidential election.

House Oversight Committee members James Comer and Nick Langworthy are spearheading an investigation into the FCC’s decision-making process. The deal, involving a $415 million debt purchase from Audacy Inc., has raised alarms about the potential for increased liberal influence over a significant portion of the American media landscape.

National Security Concerns and Procedural Questions

FCC Commissioner Brendan Carr has voiced his concerns about the departure from standard procedures in this case. Typically, acquisitions involving foreign ownership interests undergo a thorough review process that can take several months. However, in this instance, the process appears to have been significantly abbreviated.

The FCC has defended its actions, stating that the licenses would not be directly transferred to Soros but to a reorganized Audacy, with Soros as a major shareholder. They also maintain that similar procedures have been followed in past bankruptcy cases. However, this explanation has done little to quell the concerns of Republican lawmakers and conservative media figures.

Fears of Media Bias and Liberal Influence

Critics of the deal argue that Soros, a prominent Democratic donor, could use this newfound media influence to shape public opinion and potentially impact the upcoming election. Conservative commentators have expressed alarm at the prospect of liberal control over a vast network of radio stations that reach millions of Americans.

“What you now have, is a left-wing Looney Tune who has access to millions of people in every market in the United States of America,” said David D. Smith, the executive chairman of the Sinclair Broadcast Group media conglomerate.

The controversy has reignited debates about media ownership, political influence, and the role of billionaires in shaping public discourse. Some Republican lawmakers are calling for increased scrutiny of the deal and its potential implications for media diversity and fairness in political coverage.

Calls for Conservative Investment in Media

In response to the Soros-backed acquisition, there are growing calls within conservative circles for wealthy right-wing donors to increase their investments in media outlets. This strategy is seen as a way to counterbalance what they perceive as a liberal bias in mainstream media and to ensure a more diverse range of voices in the public sphere.

As the debate continues, the FCC’s decision remains under scrutiny, with lawmakers demanding documents and explanations for the expedited process. The outcome of this controversy could have far-reaching implications for media ownership rules, foreign investment in U.S. communications infrastructure, and the balance of political voices in American broadcasting.