By Casey Harper (The Heart Sq.)
Republican lawmakers on Monday ratcheted up the investigation into billionaire George Soros’ buy of a large swath of U.S. radio stations.
Soros is a serious donor to Democratic and liberal causes whose buy of American radio stations simply earlier than the election raised eyebrows and drew Congressional inquiry.
The deal started when the massive radio firm Audacy filed for chapter. By way of a sophisticated enterprise deal, Soros gained management of the stations.
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Notably, Home Power and Commerce Committee Chair Cathy McMorris Rodgers stated in a launch Monday that the deal would come with “25% of the company being indirectly foreign owned,” one thing that usually would set off Federal Communications Fee assessment.
Nevertheless, that assessment was waived, quick monitoring the deal.
Rodgers led the lawmakers in a letter to FCC Chair Jessica Rosenworcel demanding solutions on the problem. That letter, which was signed by about 40 Republican lawmakers, is the most recent 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 stated.
“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.
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As The Heart Sq. beforehand reported, Home Oversight Chair Rep. James Comer, R-Ky. and Rep. Nick Langworthy, R-N.Y., despatched a letter to Rosenworcel late final month elevating related issues.
“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 stated.
“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.
Syndicated with permission from The Heart Sq..
