A recent deal allowing liberal billionaire George Soros to use a shortcut to gain control of hundreds of U.S. radio stations has sparked controversy and prompted a congressional investigation — and it could silence hundreds of conservative talk radio stars overnight.
The purchase, which occurred through a complex business deal after the bankruptcy of major radio company Audacy Inc., has raised concerns among Republican lawmakers about its timing and the Federal Communications Commission’s (FCC) approval process.
Soros, a prominent far-Left Democratic donor, gained control of the radio stations just weeks before the 2024 presidential election.
House Oversight Chair Rep. James Comer, R-Ky., and Rep. Nick Langworthy, R-N.Y., have sent a letter to FCC Chair Jessica Rosenworcel questioning the commission’s decision to expedite the approval of the deal.
“Despite the unprecedented nature of this action, the FCC majority has apparently decided to approve licenses on an accelerated timeframe for a company in which George Soros has a major ownership stake, and with stations in 40 media markets reaching ‘more than 165 million Americans,'” they wrote.
The deal’s foreign ownership component has also raised eyebrows.
“We have established over a number of years one way in which you can get approval from the FCC when you have an excess of 25 percent foreign ownership, which this transaction does,” FCC Commissioner Brendan Carr said during a recent Congressional hearing. “It seems to me that the FCC is poised to create, for the first time, an entirely new shortcut.”
Critics of the deal argue that it gives too much influence to Soros, a prominent Democratic donor, especially given the proximity to the November presidential election.
“I have no idea why Soros would do this unless it was to manipulate the thinking of Americans and the information they listen to,” Mike Gonzalez, a former member of the George W. Bush administration now at the Heritage Foundation, said.
The purchase has dangerous implications for conservative talk radio.
“Conservative talk radio is huge, and there is no left wing talk radio because it’s just not interesting. Conservative talk radio is one of the few communications that conservatives have not a monopoly on but have a strong handle on, and he has bought stations that have Mark Levin and Sean Hannity and Dana Loesch and Glenn Beck,” Gonzalez noted.
The House Oversight Committee has requested that the FCC provide all documents and communications related to the approval process by October 13. The FCC has not yet publicly responded to these requests.