The Federal Communications Commission has approved a controversial deal that grants control of over 200 radio stations to a nonprofit funded by Democratic megadonor George Soros. The decision has drawn sharp criticism from Republicans in Congress, who argue it aims to influence the upcoming election. The House Oversight Committee is investigating the FCC’s handling of the approval process.
Audacy, a company currently in bankruptcy, holds radio station licenses from around the country in 40 media markets, reaching more than 165 million Americans.
The Soros-backed nonprofit, called the Fund for Policy Reform, will now acquire those stations, some of which are home to major conservative talk shows, including those hosted by Glenn Beck, Sean Hannity, and Mark Levin.
FCC Commissioner Brendan Carr criticized the fast-tracked approval of the acquisition, describing it as unprecedented.
He questioned the motives behind the unique approval process, stating, “We have established over a number of years one way to get approval from the FCC when you have more than 25% foreign ownership, which this transaction does. It’s very much out of the ordinary; we’ll be creating a special shortcut just for this one entity backed ultimately by this George Soros group.”
In its letter to the FCC chairwoman, the House Oversight Committee sought answers, asserting, “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.”
In response, Chairwoman Jessica Rosenworcel defended the FCC’s decision, stating that the agency followed the same process in other recent bankruptcy-related cases. She characterized the criticism as “cynical and wrong.”