In a move that has raised eyebrows ahead of the presidential election, the Federal Communications Commission (FCC) approved a deal that would allow left-wing billionaire George Soros to acquire over 200 Audacy radio stations across the United States. The approval has drawn criticism from a Republican commissioner who claims the deal was “fast-tracked” without sufficient scrutiny.
According to a report by The New York Post, the FCC approved the deal last week through a partisan vote. The commission’s three Democratic members supported the acquisition, while its two Republican members opposed it. If finalized, the deal would allow Soros to gain access to radio stations in 40 markets, with a potential reach of 165 million Americans during a pivotal time in the election cycle.
The decision has sparked controversy, particularly over the FCC’s handling of foreign investments, revealing that Democrats are willing to break all democratic norms in an effort to “defend democracy,” ie, prevent Trump’s election.
Under FCC rules, foreign ownership of U.S. radio stations is capped at 25%. Soros, whose bid involved foreign investment, reportedly requested an exemption to expedite the review process. This marks the first time in modern FCC history that such a deal has been approved without undergoing the traditional national security review, which could take up to a year.
Republican FCC Commissioner Nathan Simington strongly criticized the process, claiming it was indeed fast-tracked. “The FCC has a practice of permitting entities temporarily to exceed foreign ownership caps when emerging from bankruptcy—and the majority, over my objection, did so here,” Simington told Fox News. “But that wasn’t the only way in which this item was ‘fast-tracked.’”
Simington further criticized the manner in which the deal was rammed through, stating that it was approved at the staff level with little time for review.
“Commission leadership tried to approve the item at the staff level, with nothing but a 48-hour notice to Commissioners on a summer Friday,” he said, arguing that the decision lacked a thorough public interest analysis.
Democrats connected to the FCC have defended the move, citing similar expedited processes used during previous administrations for media companies such as Cumulus Media and iHeart Media during bankruptcy proceedings. Soros’ group has also indicated plans to revisit the national security review with the FCC in the near future.
As the deal moves forward, concerns remain about the implications of Soros’ expanded media influence. Over the past few years, Soros has funded leftwing district attorneys across the country, helping them win elections, which has seen a dramatic increase in crime.
