Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

Chip Roy raises alarms about George Soros’ purchase of radio giant Audacy

by April 25, 2024
April 25, 2024
Chip Roy raises alarms about George Soros’ purchase of radio giant Audacy

Rep. Chip Roy, R-Texas, is accusing liberal billionaire George Soros of trying to fast-track his acquisition of a major radio company through the Federal Communications Commission (FCC).

‘I write today regarding Soros Fund Management’s acquisition of over $400 million in debt held by Audacy — the second-largest broadcast radio station owner in the country. Of particular concern, the Soros groups are asking the Federal Communications Commission (FCC) to approve a change in ownership in Audacy without the FCC running its normal, statutorily required process,’ Roy said in a letter.

‘This transaction, which affects radio stations that reach millions of listeners across the U.S., including in Texas’ 21st congressional district, should — at minimum — be subject to rigorous FCC oversight to ensure U.S. radio stations are not subject to undue influence.’

Soros’ investment firm became the largest shareholder of Audacy last month, which owns local radio stations across the country. Audacy filed for bankruptcy earlier this year. 

Soros Fund Management was involved in a similar corporate restructure last year when it was one of the companies that acquired Vice Media after its bankruptcy filing last year.

Now, however, Roy raised alarm over Audacy also requesting that federal officials grant it a temporary exemption to existing FCC rules that forbid foreign company ownership of U.S. radio stations to exceed a 25% share, which would normally slow down the approval process.

‘But instead of going through the usual petition for declaratory ruling process, which would enable the FCC to review and assess those foreign ownership interests as part of its transaction review, the Soros group has asked the FCC to waive that process and put it off until sometime down the road — indicating that those foreign stakeholders will be given ‘special warrants’ in the meantime,’ Roy wrote.

‘The Soros group says that skipping the foreign ownership review at this time will enable the FCC to expedite its approval of the Soros applications and thus allow them to more quickly realize their ownership interests in, and take the reins at, these hundreds of local radio stations across the country.’

Audacy’s restructuring deal, which includes Soros’ firm and others, has been approved by the courts and is now awaiting its final hurdle — FCC approval, according to Inside Radio.

Roy told Fox News Digital that he heard from constituents who ‘reached out and raised issues and concerns about the extent to which it’s very clear that Soros is, you know, making a move in the radio world.’

‘I wanted to pose those questions to…understand what’s happening with the FCC on this, and raise the awareness publicly of the extent to which Soros’ people may be using — either the rules to their advantage, or frankly, the rules are getting abused to fast-track getting in there and grab that debt as a backdoor way to try to acquire a significant amount of ownership over local radio,’ he said.

Fox News Digital reached out to Audacy, the FCC and a Soros representative for comment.

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Trump v US: SCOTUS likely to determine presidents get ‘some amount’ of immunity, experts say
next post
Johnson fundraises for House Republican who called Matt Gaetz, Bob Good ‘scumbags’

You may also like

File Under No Kidding: Researchers Find Transgender Women...

October 5, 2022

THE FIX IS IN: Democrat John Fetterman Tells...

November 7, 2022

White House accused of US Flag Code violation...

June 12, 2023

MUST READ – Our Most Important Report of...

December 9, 2022

EXCLUSIVE: The Story About Pelosi’s Alarm and the...

November 3, 2022

At Congressional Hearing Focused on Blaming Big Business...

September 24, 2022

Senator’s fundraising skill could be winning ticket for...

May 9, 2024

Trump v Biden: Guilty verdict won’t seal the...

June 1, 2024

Trump allies scrutinize Judge Boasberg’s DC connections as...

April 1, 2025

User’s manual to Devon Archer’s closed-door interview tomorrow

July 31, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Chief Justice Roberts sounds alarm on dangerous rhetoric aimed at judges from politicians

      June 29, 2025
    • Britain’s fastest-growing firms revealed for 2025: Dfyne, Nala’s Baby and Hawkstone lead the charge

      June 29, 2025
    • Schumer to force Senate reading of Trump’s entire ‘big, beautiful bill’

      June 28, 2025
    • Rubio condemns Iran’s ‘unacceptable’ threats against IAEA director

      June 28, 2025
    • Key blue state Republican says Senate’s local tax write-off offer is a ‘good deal’

      June 28, 2025
    • Key GOP senator defects on crucial vote, imperiling Trump’s ‘big, beautiful bill’ in narrow majority

      June 28, 2025

    Categories

    • Business (8,330)
    • Investing (2,081)
    • Politics (15,852)
    • Stocks (3,177)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved