Lawmakers probe politicization of FCC with ‘shortcut’ decision to facilitate a Soros deal to obtain major stake in over 200 radio stations

https://oversight.house.gov/
 
WASHINGTON, D.C. – House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) and Rep. Nick Langworthy (R-N.Y.) are taking action to investigate potential politicization and apparent attempts to interfere in the 2024 election by the Federal Communications Commission (FCC). 

The FCC is taking unprecedented action in this case to expedite a required review of broadcast licenses by bypassing its standard procedures and processes. The expedited decision will ensure that Audacy, Inc., in which George Soros, a Democrat megadonor, and his company Soros Fund Management, are acquiring a major equity stake, will continue to maintain broadcast licenses for their over 200 radio stations. 

In a letter to FCC Chair Jessica Rosenworcel, the Committee is requesting documents and communications to understand FCC’s actions and the impact of its decisions related to radio station licenses associated with the decision.

“The Audacy, Inc. deal, which will lead to Audacy, Inc. being partially ‘directly or indirectly controlled’ by foreign individuals or entities holding ‘more than one-fourth of the capital stock’ will require FCC approval to determine whether ‘the public interest will be served by the refusal or revocation of such license.’ In carrying out this statutory mandate under the Communications Act, FCC has years-long established processes and procedures for adjudicating broadcast licenses in such situations, most recently updated in 2016,” the lawmakers wrote.

During a House Oversight Committee hearing last week, FCC Commissioner Brendan Carr voiced concern for the shortcut the FCC has created for this decision. He said, “…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.”

“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.’ 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 lawmakers continued.