Recent court filings have revealed that billionaire globalist George Soros is moving to buy substantial amounts of debt to gain a controlling interest in Audacy, America’s second-largest radio broadcaster. The filings suggest Soros Fund Management aims to purchase approximately $400 million in debt from Audacy, which operates well-known stations such as New York’s WFAN and 1010 WINS, Los Angeles-based KROQ, and a nationwide network of over 220 stations. Outside observers speculate that Soros’s acquisition could be an attempt to impact public opinion in time for the 2024 election.
A successful takeover would give Soros a 40 percent stake in the financially distressed company’s senior debt. This sizable stake could grant him significant control over the company as it resurfaces from bankruptcy. Audacy is currently under a Chapter 11 bankruptcy plan, and existing shareholders are expected to forfeit their investments. High-ranking creditors like Soros, however, would be compensated with stock in the restructured entity.
Audacy, grappling with $1.9 billion in debt, has publicly acknowledged Soros’s investment. The broadcasting company expressed optimism about the deal, stating, “The decision by our existing and new debtholders to become equity holders in Audacy represents a significant vote of confidence in our company and the future of the radio and audio business.” The company aims to finalize its bankruptcy court case in less than two months.
