House Energy and Commerce Committee Chair Cathy McMorris Rodgers (R-WA) has led a letter from House Republicans requesting answers about the Federal Communications Commission’s (FCC) decision to speed up a deal that would give billionaire George Soros control over approximately 200 radio stations, despite concerns regarding national security. The House Republicans have written to FCC Chair Jessica Rosenworcel and other Democrat-nominated commissioners concerning their decision to “fast track” the purchase of more than 200 radio stations in the United States by a fund backed by leftist nonagenarian George Soros.
Audacy, the second largest radio company, has filed for bankruptcy, with its filing revealing that a Soros-backed fund had acquired at least 40% of Audacity’s debt. Following Audacity’s emergence from bankruptcy, FCC approval was granted for its radio station licenses, which would typically trigger an FCC review to assess national security concerns. However, the FCC, under Rosenworcel, granted a waiver on this review process “allowing foreign control of a significant number of radio stations across the entire United States,” according to House Republicans.
McMorris Rodgers and other House Republicans expressed their concern that the FCC did not adhere to standard procedures for a deal of this magnitude, stating that “Licensees and investors need certainty that the FCC will follow its rules and procedures when approving transactions so that the broadcast industry can have the resources it needs to continue serving the public.” The lawmakers demanded answers about the process by which the FCC granted the Soros deal a national security waiver.
FCC Republican-nominated commissioners described the deal as “unprecedented,” noting that the agency has never allowed such a transfer of radio stations without following the protocols outlined in federal law. FCC Commissioner Brendan Carr said, “The Commission’s decision today is unprecedented. Never before has the Commission voted to approve the transfer of a broadcast license—let alone the transfer of broadcast licenses for over 200 radio stations across more than 40 markets—without following the requirements and procedures codified in federal law.
FCC Commissioner Nathan Simington added, “First, I just have to point out: a Commission eager to fast-track a billion dollar broadcast media reorganization, disregarding foreign ownership concerns, is the same Commission that has gone back to the well several times to impose and re-impose foreign sponsorship identification rules on our smallest independent broadcast license holders every time they place local church content on the air. Just saying.
Federal law requires applicants with excessive foreign ownership to file a petition for declaratory ruling at the same time that they seek FCC approval for the relevant license transfers, which must then be completed before the FCC can approve the assignment of licenses. This process should enable Executive Branch agencies with national security and specific policy expertise to weigh in on the matter.