Republicans Launch Investigation Into George Soros’ Purchase Of Hundreds Of Radio Stations

[240B]

Republicans Launch Investigation Into George Soros’ Purchase Of Hundreds Of Radio Stations

Trending Politics News
By Chris Powell
October 11, 2024

Republican lawmakers are intensifying their probe into billionaire George Soros’ acquisition of hundreds of U.S. radio stations, a move they argue could have significant implications for media ownership and national security. Known for his extensive donations to Democratic and liberal causes, Soros became a focal point of concern after his involvement in the purchase of these stations was revealed, just ahead of the upcoming presidential election.

The controversy stems from the bankruptcy of Audacy Inc., the second-largest radio company in the United States. Audacy filed for bankruptcy earlier this year, allowing a Soros-backed fund to acquire a significant portion of the company’s debt. The deal ultimately led to the fund gaining control of over 200 radio stations. However, what has sparked outrage among Republicans is the Federal Communications Commission’s (FCC) decision to fast-track the purchase, waiving rules that typically limit foreign ownership of media outlets.

House Energy and Commerce Committee Chair Cathy McMorris Rodgers expressed her concerns in a public statement on Monday. Rodgers criticized the FCC’s decision to grant the waiver, allowing “25% of the company to be indirectly foreign-owned.” Normally, such a move would necessitate a thorough FCC review, as it triggers regulations under Section 310(b) of the Communications Act of 1934. However, the FCC approved the deal on September 30, bypassing the usual review procedures.

(more)
https://trendingpoliticsnews.com/new-republicans-launch-investigation-into-george-soros-purchase-of-hundreds-of-radio-stations-mace/

[DefiantMassRINO]

This is worth looking into.

In general, non-citizens or persons with dual citizenship should not be allowed to own American media companies.

Also, the FTC needs to start enforcing anti-trust laws against large media conglomerates.  The FCC is too friendly with corporate media.

Local ownership should be preferred for media outlets to prevent capture and kill of public discourse by monopolization of media outlets and content creators.