Rep. Chip Roy, R-Texas, left, is calling national attention to George Soros’ hedge fund acquiring a large stake in a radio company. (Getty Images)
Rep. Chip Roy, R-Texas, says he is concerned about Soros’ influence over local radio stations
by Elizabeth Elkind
Originally Published April 24, 2024
Soros’ investment firm became the largest shareholder of Audacy last month, which owns local radio stations across the country. Audacy filed for bankruptcy earlier this year.
Soros Fund Management was involved in a similar corporate restructure last year when it was one of the companies that acquired Vice Media after its bankruptcy filing last year.
Now, however, Roy raised alarm over Audacy also requesting that federal officials grant it a temporary exemption to existing FCC rules that forbid foreign company ownership of U.S. radio stations to exceed a 25% share, which would normally slow down the approval process.
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