There is so much wrong with this “transaction” that it is hard to prioritize the mistakes, but in my opinion, breaking a hard and fast FCC rule is at the top of the list. As mentioned earlier, the Soros Group purchased 40 percent of the then-bankrupt Audacy company. However, a foreign company's ownership of U.S. radio stations cannot exceed 25 percent under existing FCC rules, so how was this purchase allowed?
The fact is that it cannot be allowed! For this to happen, an exception must be made to a long-existing FCC rule, and a filing acquired by the Post shows that Soros asked the commission to make just such an exception in Audacy’s case.
However, FCC Commissioner Brendan Carr is criticizing the potential agency assistance, telling the Post:
“The FCC should not create a special Soros shortcut. Regarding a broadcast station acquisition of this size and magnitude, hundreds of radio stations across more than 45 markets, the FCC needs to run its full and normal review process. The FCC should not be skipping steps or waiving required agency processes.”
No Kidding! The idea that the FCC would wave this rule for any foreign entity is unacceptable, but to make any exception for the likes of George Soros is beyond despicable.
Dominated by Democrats or not, the FCC can’t allow this to happen. Congress and the Senate need to step up and bury this blatant attempt to disrupt an American election as well as speech equality in the future.