The Federal Communications Commission's Democratic majority has stirred controversy by accelerating the approval process for a significant radio station acquisition.
According to a Breitbart News report, the FCC has expedited a deal allowing billionaire George Soros to acquire over 200 radio stations, bypassing the typical national security review process.
This decision has sparked objections from Republican commissioners and raised questions about the potential impact on media ownership and content. The deal in question involves Soros's $400 million investment in Audacy, a radio network covering 40 media markets.
Normally, FCC rules limit foreign company ownership of American radio stations to 25 percent, but Soros reportedly sought an exception to this rule, citing foreign investment in his bid.
FCC Commissioner Nathan Simington, a Trump nominee, expressed his objections to the expedited process:
Commission leadership tried to approve the item at the staff level, with nothing but a 48-hour notice to Commissioners on a summer Friday. There is almost no factual record on the item because there was almost no attempt to do a real public interest analysis.
Simington's comments highlight the unusual nature of this fast-tracked approval, which reportedly marks the first time such a deal has bypassed the typical year-long national security review process.
Commissioner Brendan Carr also voiced his concerns about the deal's implications, particularly given the strategic importance of some of the radio stations involved:
This Soros-backed group is looking to buy the second-largest radio station group in the country… some of them are in Pennsylvania, Virginia, and Florida. The vast majority are probably music or sports, but there are a handful in those states that carry conservative talk radio.
In response to the growing scrutiny, an FCC spokesperson defended the commission's actions, stating that no decision is final until officially released.
The spokesperson also emphasized that the FCC has a long-standing process for reviewing transactions involving companies emerging from bankruptcy.
The FCC cited similar expedited processes used during the previous administration for several media companies, including Cumulus Media, iHeart Media, and Alpha Media. However, critics argue that the scale and potential impact of the Soros-backed acquisition set it apart from these previous cases.
The acquisition has raised concerns about its potential effect on the media landscape, particularly in key swing states. With Audacy currently hosting several conservative talk shows, including programs by Sean Hannity, Dana Loesch, and Mark Levin, some observers question whether these shows will continue under new ownership.
A source quoted in the New York Post expressed doubt about the future of conservative programming on certain radio stations. They questioned the likelihood that George Soros would acquire hundreds of local stations right before a national election and continue airing conservative hosts like Sean Hannity on Audacy, suggesting it was not a believable scenario.
The FCC's decision to expedite the approval of George Soros's acquisition of over 200 radio stations has ignited a debate about media ownership, regulatory processes, and potential impacts on political discourse. Republican commissioners have raised objections to the fast-tracked approval, citing concerns about the lack of a thorough public interest analysis and national security review. As the deal moves forward, observers will be watching closely to see how it might reshape the radio landscape, particularly in key political battlegrounds.
