Billionaire Democrat mega-donor George Soros is gearing up to monopolize the audio industry after its management fund acquired Audacy, the company behind iHeart Media and the second-largest radio company in the US.
Soros Fund Management, under Soros’ Open Society Foundations, is also considering buying out other major radio companies that express bankruptcy, including Cumulus Media, as Semafor reported last Sunday.
The fund’s lead media investor, Michael Del Nin, has discussed this possibility with a few notable people from digital media and audio companies since last year, including conversations with podcast network Project Brazen. Soros is also eyeing Pushkin Industries, a podcast company owned by Malcolm Gladwell and Jacob Weisberg; and Lemonada, the network that has gained popularity for its magazine show led by Julia Louis-Dreyfus.
With his control of Audacy, Soros now monopolizes airwaves with 230 radio stations nationwide, including New York’s WFAN and 1010 WINS, as well as Los Angeles-based KROQ, per bankruptcy filings, as reported by the New York Post last Tuesday. This also meant that Soros Management Fund also acquired Audacy’s $400 million debt.
In 2022, Soros poured funds into Crooked Media, a left-leaning podcast network behind “Pod Save America.”
However, Soros’ upcoming audio empire could be stalled by a policy by the Federal Communications Commission’s (FCC) restrictions limiting the number of radio stations an individual can own.
Rep. Nick Langworthy (R-New York) calls on the FCC to probe the recent sale of Audacy to Soros.
Langworthy demanded FCC Chair Jessica Rosenworcel look into this, as it is the FCC’s responsibility to regulate radio communications and ensure that Soros’ plan to control the media and flood it with far-left propaganda does not move further.
“George Soros’ purchase of Audacy is another step in his effort to choke American radio with his own agenda. It threatens not just the diversity of viewpoints on the airwaves, but it also has the potential to stifle local news and community-based reporting,” Langworthy remarked in an interview with The Daily Caller.
“The FCC needs to take a serious look so we can safeguard our local stations and preserve our freedom of expression,” he added.
“I believe this sale is the latest in a series of moves by a partisan, progressive billionaire to consolidate control over the media and flood hundreds of radio stations with far-left ideology and propaganda,” the New York lawmaker wrote in a letter to Rosenworcel.
“Furthermore, I believe that what we could lose in the process is the unique lifeline that local radio brings through both local connection and diversity of thought that have been so important to Americans, particularly in recent years.”
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Author: The Raging Patriot
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