Lawmakers ratchet up investigation into Soros radio station deal
By Casey Harper
The Center Square
Republican lawmakers on Monday ratcheted up the investigation into billionaire George Soros’ purchase of a wide swath of U.S. radio stations.
Soros is a major donor to Democratic and liberal causes whose purchase of American radio stations just before the election raised eyebrows and drew Congressional inquiry.
The deal began when the large radio company Audacy filed for bankruptcy. Via a complicated business deal, Soros gained control of the stations.
Notably, House Energy and Commerce Committee Chair Cathy McMorris Rodgers said in a release Monday that the deal would include "25% of the company being indirectly foreign owned,” something that normally would trigger Federal Communications Commission review.
However, that review was waived, fast tracking the deal.
Rodgers led the lawmakers in a letter to FCC Chair Jessica Rosenworcel demanding answers on the issue. That letter, which was signed by about 40 Republican lawmakers, is the latest Congressional scrutiny of Soros’ purchases.
“We write to better understand the recent decision made by the Federal Communications Commission (FCC) to waive its foreign ownership rules to fast track the purchase of more than 200 radio stations in the United States (U.S.) by a Fund backed by a Democrat mega-donor,” the letter said.
“This process seemed to deviate from the regular order with which the FCC has historically reviewed transactions under Section 310(b) of the Communications Act of 1934 … and with this approval happening just before a Presidential election, the timing seems suspect,” the letter continued.
As The Center Square previously reported, House Oversight Chair Rep. James Comer, R-Ky. and Rep. Nick Langworthy, R-N.Y., sent a letter to Rosenworcel late last month raising similar concerns.
“Despite the unprecedented nature of this action, the FCC majority has apparently decided to approve licenses on an accelerated timeframe for a company in which George Soros has a major ownership stake, and with stations in 40 media markets reaching ‘more than 165 million Americans,’” the letter said.
“By all appearances, the FCC majority isn’t just expediting, but is bypassing an established process to do a favor for George Soros and facilitate his influence over hundreds of radio stations before the November election,” the letter added.
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