By Casey Harper (The Middle 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 significant 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 big 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 Vitality and Commerce Committee Chair Cathy McMorris Rodgers stated in a launch Monday that the deal would come with “25% of the corporate being not directly overseas owned,” one thing that usually would set off Federal Communications Fee evaluate.
Nevertheless, that evaluate was waived, quick monitoring the deal.
Rodgers led the lawmakers in a letter to FCC Chair Jessica Rosenworcel demanding solutions on the difficulty. That letter, which was signed by about 40 Republican lawmakers, is the most recent Congressional scrutiny of Soros’ purchases.
“We write to raised perceive the current determination made by the Federal Communications Fee (FCC) to waive its overseas possession guidelines to quick monitor the acquisition of greater than 200 radio stations in the US (U.S.) by a Fund backed by a Democrat mega-donor,” the letter stated.
“This course of appeared to deviate from the common order with which the FCC has traditionally reviewed transactions beneath Part 310(b) of the Communications Act of 1934 … and with this approval occurring simply earlier than a Presidential election, the timing appears suspect,” the letter continued.
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As The Middle 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 comparable considerations.
“Regardless of the unprecedented nature of this motion, the FCC majority has apparently determined to approve licenses on an accelerated timeframe for a corporation by which George Soros has a significant possession stake, and with stations in 40 media markets reaching ‘greater than 165 million People,’” the letter stated.
“By all appearances, the FCC majority isn’t simply expediting, however is bypassing a longtime course of to do a favor for George Soros and facilitate his affect over a whole bunch of radio stations earlier than the November election,” the letter added.
Syndicated with permission from The Middle Sq..
