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The article you provided is mostly clear, but there are a few areas where corrections could improve clarity or accuracy. Here’s a revised version: The Federal Communications Commission (FCC) quickly approved a deal that would allow Democratic donor George Soros to buy a significant portion of over 200 radio stations.
According to Fox News, the House Oversight Committee has opened an investigation into the move due to concerns about “politicization” and its potential impact on the 2024 presidential election. Some Republican members of Congress, along with a Republican FCC commissioner who has expressed concerns about the decision, have criticized the approval of Soros’ purchase of more than 200 Audacy radio stations.
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Last week, the FCC gave the green light to Soros’ purchase of more than 200 radio stations in 40 markets, only weeks before the presidential election, as reported by the New York Post. This could potentially allow him to reach 165 million Americans.
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Rep. Nick Langworthy and House Oversight Committee Chairman James Comer (R-Ky.) have accused the FCC of speeding through the review of broadcast licenses without following proper procedures.
Comer and Langworthy responded by writing to Jessica Rosenworcel, the chair of the FCC, asking for correspondence and documents that would clarify the reasons behind the agency’s hasty decision-making.
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Around 200 stations are owned by Audacy Inc. Soros intends to assume more than $415 million in debt as part of the business’s Chapter 11 bankruptcy reorganization, according to Fox News.
Comer and Langworthy expressed alarm over Soros-funded groups that encourage online speech prohibitions and silence conservative viewpoints.
They cautioned that Soros might increase his stake following the bankruptcy sale. Additionally, the two Republican congressmen claim that Soros has sought to increase his influence over the media.
They noted that Soros Fund Management’s investments in podcast platforms and radio stations in key media markets could affect what Americans hear, influencing political discussions. They also mentioned that audio makes up 31 percent of all media consumption in the U.S., surpassing television, which stands at 24 percent.
Comer and Langworthy expressed worries that the Audacy agreement might lead to foreign entities gaining direct or indirect control over more than 25% of the company’s capital stock. The deal required FCC approval to assess its alignment with public interest. They highlighted that the FCC operates under the Communications Act, adhering to established protocols for reviewing broadcast licenses, with the latest revisions made in 2016.
The senators referred to FCC Commissioner Brendan Carr, who emphasized the agency’s rules on foreign ownership of radio stations during a committee hearing. Carr noted that the FCC did not follow its usual procedure in this case.
Carr stated that a shortcut of this kind has never been approved by the entire commission. Additionally, he clarified that the process often entails filing a petition, which might take months to review by national security authorities for foreign ownership.
Comer and Langworthy remarked that, despite the circumstances being out of the ordinary, the FCC majority seemed to expedite the approval of licenses for a company in which Soros holds a substantial ownership interest.
This company operates stations across 40 media markets, reaching an audience of over 165 million Americans. They also observed that the FCC seemed to bypass the regular process to benefit Soros and expand his influence over radio stations ahead of the November election.
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