Remember that time George Soros helped fund the purchase of 22 newspapers in Maine?
Well, now Soros is buying up more than 200 radio stations nationwide, and the FCC — right before the election — is fast-tracking the purchase, even though there's usually a strict standard review process when foreign ownership (in this case, Soros) of a US radio station exceeds 25%.
The FCC on Wednesday adopted an order to approve Soros' purchase of 200 radio stations across 40 markets, sources told the New York Post. The commission's three Democrats voted for the measure while the two Republican members voted against it.
FCC rules state that foreign company ownership of radio stations in the US should not exceed 25 percent. To make his bid for the purchase, Soros took foreign investment and issued a filing requesting that the commission make an exemption to the standard review process that takes place.
No big deal, you guys, it's just George Soros buying up the second-most popular radio station network in the nation, Audacity. They only have 220 stations. Nothing to worry about here. Just another conspiracy theory.
More from the story:
The Post reported that the decision is the first time in modern history that such a deal was approved by the FCC without running a national security review process. This process typically takes up to a year or more to do. The Soros group has said that they will come back to the FCC at some point in the future for that process.
Soros' investment firm Soros Fund Management bought up $400 million of debt in Audacy in February, making Soros' stake in the company's debt equal to about 40 percent.
Man, I'd love to see what this piece of news would look like on corporate news networks if, say, Elon Musk bought up a bunch of radio stations like this right before an election and the FCC fast-tracked that process.
Surely, however, the FCC wouldn't do such a thing for someone focused on open debate and free speech!
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