Senator Tom Cotton (R-AR) has expressed significant concern over the Federal Communications Commission's (FCC) expedited approval of George Soros’ purchase of over 200 radio stations. This acquisition, fast-tracked just weeks before the 2024 presidential election, is raising alarms among Republicans, with critics suggesting the deal could be politically motivated.
Soros’ Soros Fund Management (SFM) is acquiring a substantial stake in Audacy, the second-largest radio network in the United States. The network’s stations, which reach over 165 million listeners, include numerous conservative voices such as Sean Hannity, Glenn Beck, and Mark Levin. Republicans fear that the timing and nature of this deal may enable Soros to exert influence over critical conservative platforms just ahead of the election.
This is Senator Tom Cotton, questioning the TikTok CEO with the stupid questions about China and some kind of genocide (not the one in Israel).
Tom Cotton was part of the operation in Iraq when the US military was stealing and taking out their gold reserves. pic.twitter.com/kk5IAke1OT
— Megatron (@Megatron_ron) February 2, 2024
Cotton's letter to FCC Chairwoman Jessica Rosenworcel questions the integrity of the process, noting that the FCC bypassed its typical review protocols. Normally, such a purchase would trigger a national security review, particularly given the involvement of foreign investments. FCC rules stipulate that foreign ownership of U.S. media assets should not exceed 25%, but Soros was granted an exemption, reportedly without full consideration of national security implications.
In his letter, Cotton highlights that this fast-tracking process occurred within 48 hours, sidestepping the year-long review period that would normally be required. He also pointed out that other FCC commissioners were excluded from weighing in on the decision. Cotton accused the FCC of political bias and questioned whether this rushed approval was designed to favor Soros, a well-known Democratic megadonor.
Breaking: Senator Tom Cotton has sent a letter alleging that UNRWA has likely misused "more than one billion dollars in U.S. humanitarian aid sent to Gaza since October 2023.”
This misuse of such dollars has gone to promoting terror activities, rather than helping Gazans. pic.twitter.com/dYxxRXSo1x
— Eyal Yakoby (@EYakoby) October 9, 2024
The deal has drawn widespread criticism from conservative lawmakers and media outlets. Congressman Nick Langworthy (R-NY) and House Oversight Committee Chairman James Comer (R-KY) have launched their own investigation into the FCC’s handling of the transaction. They are seeking documents and communications related to the decision to better understand how the FCC justified bypassing its standard processes.
Supporters of the acquisition argue that Soros' investment will help rescue Audacy, which has been financially struggling. Soros previously acquired a 40% stake in the company’s debt earlier this year, and the acquisition of these radio stations is seen as a move to stabilize the network. However, critics argue that the timing of this acquisition just weeks before the election is too coincidental and could have significant implications for media impartiality.
The controversy also centers on the content aired by these radio stations. With conservative pundits dominating much of the network’s programming, there is concern that Soros' involvement could lead to changes in editorial direction, potentially silencing key conservative voices at a crucial time. Republican lawmakers are urging the FCC to reconsider the approval and to subject the deal to the full scrutiny of a national security review.
With the 2024 election approaching, the expedited nature of this deal has become a focal point of Republican criticism of the Biden administration and its allies. Cotton’s letter is one of several actions being taken to halt or slow the acquisition, but it remains to be seen whether the FCC will reconsider its approval or if the purchase will proceed as planned.
