Jessica Rosenworcel, chair of the Federal Communications Commission, responded to concerns from congressional Republicans after the FCC approved, on a 3-2 vote, the transfer of licenses for 200 radio stations owned by Audacy to a company controlled by the Fund for Policy Reform, a nonprofit funded by billionaire George Soros.
Reps. James Comer, R-Ky., and Nick Langworthy, R-N.Y., members of the House Oversight Committee, had written a letter to Rosenworcel, announcing an investigation into the FCC's approval of the transfer, which they claim ignored concerns about foreign ownership.
"The FCC appears to be bypassing standard processes and procedures in an unprecedented way to benefit a Democrat megadonor acquiring a major equity stake in hundreds of local radio stations across the country," the legislators wrote.
In her letter, Rosenworcel said FCC handled the process like how it handled the bankruptcy proceedings of Cumulus Media, iHeart Media, and Alpha Media.
"The standard practice of the agency here and in these prior cases is designed to facilitate the prompt and orderly emergence from bankruptcy of a company that is a licensee under the Communications Act," Rosenworcel wrote.
The two Republicans on the FCC board voted against the deal. Brendan Carr, a Federal Communications Commission commissioner, told Newsmax this month the agency's recent decision was unprecedented.
Comer and Langworthy are concerned the timing of the move could allow Soros to exert greater influence over the airwaves in advance of the upcoming presidential election.
According to the FCC's filing on the sale, four members of the Fund for Policy Reform's board are U.S. citizens, and Audacy CEO David J. Field will continue to serve in his position at the new Audacy and he will sit on the company's board.