House Republicans are probing the Federal Communications Commission (FCC) for allegedly fast-tracking a deal that allows a company tied to George Soros to maintain control of over 200 radio stations, raising concerns about potential political influence ahead of the 2024 election.
House Oversight and Accountability Chairman James Comer, R-Ky., and Rep. Nick Langworthy, R-N.Y., announced in a press release an investigation into the FCC expedited review process for a deal involving Audacy, Inc., in which George Soros, a prominent Democratic donor, is acquiring a substantial equity stake.
The lawmakers are questioning whether the FCC's actions reflect political bias and are intended to influence the 2024 election.
The deal under scrutiny would grant Audacy, Inc., which operates over 200 radio stations across 40 media markets, continued control of its broadcast licenses despite significant foreign ownership, which typically undergoes extensive FCC review.
In a letter to FCC Chair Jessica Rosenworcel, the lawmakers requested documentation and communications related to the decision to understand better the agency's motivations and adherence to its standard procedures.
"The Audacy, Inc. deal will lead to the company being partially 'directly or indirectly controlled' by foreign individuals or entities holding 'more than one-fourth of the capital stock,' which necessitates FCC approval to ensure 'the public interest will be served by the refusal or revocation of such license,'" wrote Comer and Langworthy. They emphasized that the FCC has a well-established, years-long process for evaluating such cases, which was last updated in 2016.
During a recent House Oversight Committee hearing, FCC Commissioner Brendan Carr expressed concerns over what he described as a "shortcut" in the review process.
Carr stated, "The FCC is not following its normal process for reviewing a transaction. We have established over a number of years one way in which you can get approval from the FCC when you have an excess of 25 percent foreign ownership, which this transaction does. It seems to me that the FCC is poised to create, for the first time, an entirely new shortcut."
According to the lawmakers, the expedited review appears to be an unprecedented move by the FCC, potentially favoring Soros's interests.
"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,'" they stated.
The controversy revolves around the timing and manner of the FCC's decision, which Comer and Langworthy suggest could be aimed at allowing Soros to exert greater influence over the airwaves in advance of the November 2024 election. They argue that bypassing established procedures undermines the transparency and integrity of the FCC's regulatory role.
The Committee's investigation will uncover the rationale behind the FCC's handling of the Audacy, Inc. deal and whether the accelerated approval process deviates from standard regulatory practices.
They aim to determine if the decision was influenced by political considerations, especially given Soros's prominent position as a donor to Democratic causes and candidates.
Jim Thomas ✉
Jim Thomas is a writer based in Indiana. He holds a bachelor's degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.
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