What do conservative talk radio hosts Dana Loesch, Mark Levin, Glenn Beck, Sean Hannity, and Erick Erickson all have in common? All of their shows are carried by Audacy, the second-largest radio network in the country. Another thing they're about to have in common is "progressive" billionaire George Soros as the man who owns their airwaves — if he gets the waiver he wants from the Democrat-controlled FCC.
The real-world Bond villain/philanthropist of bad causes took a $415 million stake in Audacity in February of this year, which Inside Radio called "the latest act in the liberal billionaire's media investments." The industry paper explained that "the Audacy deal isn't his first land grab in the audio business. In addition to taking a minority stake in podcast company Crooked Media, Soros Fund Management was also one of several investors in Latino Media Network, which purchased 18 radio stations in 10 major markets – including New York, Los Angeles, and Miami – from TelevisaUnivision a year ago."
When Audacity filed for bankruptcy in January, Soros swooped in to buy up their debt cheap — just 50 cents on the dollar — making his first move at gaining control of the company's 227 radio stations in 45 media markets across the country with 165 million monthly listeners. One of those stations is personal to me, KMOX 1120-AM in St. Louis. I grew up listening to the news-talk powerhouse — and even interned there in 1988, learning writing and broadcasting from old-school pros like Bob Hamilton.
"How long do you think that guy will allow all of those conservative radio stations to stay in operation?" conservative talk show host Stacy Washington asked at the time.
In 2023, Soros also bought Vice Media and Crooked Media, but he won't have to make any changes to them, not even their names.
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Audacity's rival iHeart Media owns more radio stations than Audacity does, but the majority of them are spread out among smaller markets, and, as far as I can tell, iHeart isn't overtly left-wing like everything Soros controls.
Here's where things really get sticky.
According to Tuesday's report in the New York Post, before Soros can take control of Audacity, "Soros Fund Management needs help from the FCC as the money funneled into buying the bankrupt network comes from abroad." Under current law, "foreign company ownership of U.S. radio stations is not allowed to exceed 25% — but a filing acquired by The Post details Soros’ asking the commission to make an exception."
Soros is reportedly leaning hard on the FCC for approval, but, at least publicly, the commission remains mum.
Dana Kennedy and Lydia Moynihan warned in that same New York Post story that Loesch's, Levin's, et al. "influence is likely to be muted if the billionaire takes over and imposes his agenda, as has happened with other media acquisitions." Republican FCC Commissioner Brendan Carr added, "When it comes to 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."
Any Biden administration willingness to fast-track a plan that might silence a few critics would come as zero surprise to this jaded columnist. But this story has yet to play out, so let's see what happens.
In the meantime, did you know that the FCC has a toll-free number for filing complaints? Maybe they need to know how you feel about a Soros buyout.
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