Written by Luke Reynolds.
The Federal Communications Commission (FCC) has given the green light to billionaire George Soros to acquire more than 200 radio stations across 40 markets, all before the upcoming U.S. election. Despite FCC rules, this controversial approval bypassed a national security review that should have been mandatory.
On Wednesday, the three Democrats on the FCC voted in favor of Soros’ purchase, while the two Republican members objected. Typically, any foreign ownership exceeding 25% must undergo a thorough national security review before being approved. However, the FCC decided to fast-track Soros’ bid, marking the first time this rule has been overlooked.
Soros’ Stake in Media Raises Questions
According to public records, Soros’ stake in U.S. radio stations exceeds the 25% limit due to foreign investment, a situation that usually prompts a long review process. The FCC has, in this case, reportedly waived the usual safeguards. The Soros team did claim that they would eventually subject the deal to the required review, but conveniently, this will be after the takeover.
The timing of this deal has raised eyebrows, especially with the election just around the corner. Many see this as an attempt to skew media influence toward far-left candidates. Back in February, Soros’ investment fund had already purchased $400 million in debt from Audacy, the second-largest radio operator in the U.S., giving him significant sway over major stations, including ones that host conservative voices like Sean Hannity and Mark Levin.
An FCC spokesperson tried to downplay the situation, insisting that no final decision had been made. They also mentioned that the transfer involved Audacy’s restructuring through bankruptcy, which they said was still under review.
Concerns Over National Security and Media Influence
FCC Commissioner Brendan Carr has been vocal about his concerns. He believes the fast-track approval is highly irregular, accusing the Commission of bending its own rules for political reasons. “The Commission has never bypassed national security reviews like this before,” Carr stated on a conservative radio show, expressing his belief that this special treatment is specifically benefiting the Soros group.
Critics argue that Soros’ involvement could lead to a dangerous monopoly over influential media outlets, especially as the U.S. approaches a major election. Although Soros doesn’t hold a majority stake, his considerable investment may allow him to dictate content and policies once Audacy comes out of bankruptcy. If this happens, the landscape of talk radio could shift dramatically, weakening conservative viewpoints and promoting far-left ideologies.
Our Take
The FCC’s decision to rush Soros’ takeover of these radio stations is alarming. It undermines the integrity of the regulatory process and sets a precedent that powerful individuals can bypass national security reviews. Soros’ media influence, combined with his foreign investments, presents a clear threat to fair and balanced news coverage. With the election approaching, this kind of unchecked control over major radio stations is bad for democracy. Media should serve the public, not be a tool for political manipulation.
