SUMMARY
The Federal Communications Commission (FCC) is expediting the approval process for George Soros' acquisition of Audacy, the second-largest U.S. radio network, raising concerns ahead of the 2024 presidential election. Soros Fund Management bought $400 million of Audacy's debt, aiming to control the network that owns over 220 stations and reaches 165 million monthly listeners. This purchase would require the FCC to allow a higher-than-usual percentage of foreign ownership. FCC Commissioner Brendan Carr and Rep. Chip Roy (R-TX) have voiced objections, insisting on a thorough review process. Critics worry Soros' influence could reshape conservative programming on the network.
