Chip Roy raises alarms about George Soros' purchase of radio giant Audacy

[libertybele]

Chip Roy raises alarms about George Soros' purchase of radio giant Audacy

Chip Roy is accusing liberal billionaire George Soros of trying to fast-track his acquisition of a major radio company through the Federal Communications Commission (FCC).

"I write today regarding Soros Fund Management’s acquisition of over $400 million in debt held by Audacy — the second-largest broadcast radio station owner in the country. Of particular concern, the Soros groups are asking the Federal Communications Commission (FCC) to approve a change in ownership in Audacy without the FCC running its normal, statutorily required process," Roy said in a letter.

"This transaction, which affects radio stations that reach millions of listeners across the U.S., including in Texas’ 21st congressional district, should — at minimum — be subject to rigorous FCC oversight to ensure U.S. radio stations are not subject to undue influence.".............

https://www.foxnews.com/politics/chip-roy-raises-alarms-george-soros-purchase-major-radio-company

[DefiantMassRINO]

Time to have Federal Trade Commission breakup Big Media monopolies, dualopolies, and oligopolies. 

Time for FCC to return radio stations and TV stations to local or regional ownership.

[rustynail]

His stations will play Baby Shark and Peanut butter jelly time 24/7.

[jmyrlefuller]

Time to have Federal Trade Commission breakup Big Media monopolies, dualopolies, and oligopolies. 

Time for FCC to return radio stations and TV stations to local or regional ownership.

Meh, most of these companies aren't particularly profitable anyway. You're seeing things balance themselves out slowly, but surely.

The one thing holding things up is a company known as Educational Media Foundation. They run K-Love, which is supposed to be a Christian network. And any time one of these big corporate owners runs up against an ownership cap or is short on cash and needs to sell a station, EMF is almost always the one who gets to buy it. Where do they get the money? Well, they're constantly running pledge drives, for one.

But EMF keeps scarcity afloat on the FM band by making sure there's always a buyer for the big corporate stations. On the AM end, it seems they just let licenses expire because there hasn't been a really successful AM format since the 1990s.