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Tag: Audacy
October 1, 2024
Media

Soros Gets Sweetheart Deal from Biden-Harris Govt in U.S. Radio Buy-Up.

The U.S. House Oversight Committee is scrutinizing the Federal Communications Commission (FCC) expediting the approval of billionaire plutocrat George Soros acquiring numerous American radio stations through Audacy Inc. The purchasing spree, which required FCC consent, has been fast-tracked, raising questions about the agency’s impartiality.

FCC Commissioner Brendan Carr has told Congress that “the FCC is not following its normal process” in authorizing Soros’s radio takeover. He notes there is “one way in which you can get approval from the FCC when you have an excess of 25 percent foreign ownership” for such transactions, but “the FCC is poised to create, for the first time, an entirely new shortcut” for Soros.

House Oversight Chair Representative James Comer (R-KY) and Rep. Nick Langworthy (R-NY) have written a letter to FCC Chairwoman Jessica Rosenworcel expressing their concerns that “By all appearances, the FCC majority isn’t just expediting, but is bypassing an established process to do a favor for George Soros and facilitate his influence over hundreds of radio stations before the November election.”

The Hungarian-born investor, convicted of insider trading in Europe, is a major donor to the Democrats, and it was the votes of Democrat commissioners at the FCC that authorized his radio purchases.

Image by Michael Spilotro.

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The U.S. House Oversight Committee is scrutinizing the Federal Communications Commission (FCC) expediting the approval of billionaire plutocrat George Soros acquiring numerous American radio stations through Audacy Inc. The purchasing spree, which required FCC consent, has been fast-tracked, raising questions about the agency's impartiality. show more
george soros
February 15, 2024
Media

Soros Seeks Control of Second Largest U.S. Radio Chain in America.

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.

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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. show more