Chairman Brendan Carr of the Federal Communications Commission is anticipated to deliver an update regarding the agency’s inquiry into George Soros and his impact on local radio stations during a meeting with Republican lawmakers on Wednesday.
According to Fox News, Carr will convene with members of the Republican Study Committee, which comprises 175 House Republicans, at their annual private luncheon.
A source informed the outlet that Carr is prepared to inform lawmakers about Soros’s influence on local radio stations, especially considering his connections to an investment firm that acquired over 200 Audacy radio stations across the country last year.
Additionally, Car is expected to address broader strategies aimed at countering left-leaning media, as reported.
The recent purchase of the radio stations has attracted considerable interest from prominent Republicans. In September, House Oversight Committee Chairman James Comer (R-KY) and Rep. Nick Langworthy (R-NY) revealed intentions to scrutinize the FCC under the Biden administration for permitting Soros Fund Management to acquire a significant interest in Audacy.
The investment firm possesses a notable portion of foreign ownership, which led Carr to provide testimony before the House Oversight Committee, voicing apprehensions regarding the agreement.
‘The FCC is not adhering to its standard procedure for evaluating a transaction,’ he informed lawmakers at that time.
Over the years, we have developed a method for obtaining approval from the FCC in cases where foreign ownership exceeds 25 percent, as is the case with this transaction,” Carr stated. “It appears that the FCC is on the verge of introducing, for the first time, a completely new expedited process.”
Members of the House Oversight Committee expressed in a letter to former FCC Chair Jessica Rosenworcel that it appears the FCC majority is not only accelerating the process but also circumventing established protocols to benefit George Soros.
This action would enable him to exert influence over numerous radio stations prior to the upcoming November election. Additional Republican representatives have also criticized this decision.
Representative Chip Roy (R-TX) previously addressed a letter to FCC Chairwoman Jessica Rosenworcel, raising concerns regarding the transaction and its potential consequences.
In his April 2024 letter, Roy stated, ‘I am writing today concerning Soros Fund Management’s acquisition of more than $400 million in debt owned by Audacy, which is the second-largest broadcast radio station owner in the nation,’ as reported by The Dallas Express.
Roy noted that the ‘Soros group asserts that bypassing the foreign ownership review at this juncture will facilitate the FCC in hastening its approval of the Soros applications, thereby enabling them to swiftly actualize their ownership interests in and take control of numerous local radio stations nationwide.’
Just prior to the November election, the FCC, under the Biden administration, accelerated its decision to sanction a transaction permitting the prominent Democratic donor Soros to obtain a substantial interest in over 200 radio stations.
The agency ‘issued an order to authorize Soros’ acquisition of more than 200 radio stations across 40 markets mere weeks before the presidential election,’ which would grant him access to an audience of up to 165 million Americans, as reported by the Oversight committee.
Soros aims to acquire $415 million in debt as part of a Chapter 11 reorganization of the company, according to Fox news.
Comer and Langworthy cautioned that Soros is a financial backer of groups promoting limitations on free speech and the censorship of conservative voices on the internet. They further stated, ‘He is poised to become a significant shareholder once the bankruptcy agreement is finalized.’
The two Republican legislators additionally cautioned that Soros has attempted to centralize authority over the media channels.
