Left-leaning billionaire George Soros is trying to recruit the Democrat-controlled Federal Communications Commission to help fast track his takeover of the nation's second-biggest radio network.
George Soros, Hungarian-born US investor and philanthropist, answering questions after delivering a speech at the World Economic Forum meeting in Davos 6 In 2022, George Soros-backed group Latino Media Network bought Mambi, a mainstay of Miami's hardline anti-Communist Cuban exile community, and 17 other Spanish-language radio stations in a $60M deal.
Brendan Carr, Commissioner at the Federal Communications Commission, testifying before a House Subcommittee in Washington DC 6 Commissioner Brendan Carr slammed the idea the FCC was giving Soros a "Shortcut" to acquire radio network Audacy instead of forcing the deal to go through the normal review process.
Entrance to the Federal Communications Commission building in Washington in June 2015 6 The FCC is expediting the review of a George Soros backed group to purchase a $400 million stake in the nation's second-biggest radio network, Audacy, in February.
In the past two years, Soros Fund Management - a rep for which said they do not comment on ongoing transactions - has made big moves into American radio.
" George Soros, billionaire investor, receiving the Schumpeter Prize in Vienna, Austria on June 21, 2019 6 Lawmakers and regulators alike are demanding the Soros deal be subject to rigorous FCC oversight to ensure U.S. radio stations are not subject to undue influence.
" REUTERS George Soros speaking at an event 6 Soros's stake is equal to about 40% of the company's debt, which would give him influence, but not a controlling stake AFP via Getty Images Audacy is the nation's second-biggest radio network after the iHeart network with 220 stations including New York's WFAN and 1010 WINS, as well as Los Angeles-based KROQ, according to bankruptcy filings.
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