Soros' firm set to take a major stake in American broadcast media

PHILADELPHIA, PA - The landscape of the American Radio industry is set to radically change with the fate of the second-largest radio company in the nation poised to be taken over by billionaire global influence broker Goerge Soros' firm, Soros Fund Management. 

As reported by The Epoch Times, Soros Fund Management, founded in 1970 by the financier, owns a massive stake of $414 million of the maximum-tier investment in the debt of Audacy, Inc.. This is the Philadelphia parent company of hundreds of radio stations in markets throughout the country, per court filings from its ongoing bankruptcy.

Soros' company among others is part of the "ad hoc first lien group," which together are about to convert their holdings into Audacy stock as a part of the company's restructuring plan to be reviewed by United States Judge Christopher Lopez on February 20.

In a January 7 press release obtained by the Times, the company explained, "Through the restructuring, Audacy and its debtholders will undertake a deleveraging transaction to equitize approximately $1.6 billion of funded debt, a reduction of 80 percent from approximately $1.9 billion to approximately $350 million."

Chairman, president, and CEO of Audacy David J. Field said in a statement, “Over the past few years, we have strategically transformed Audacy into a leading, scaled multi-platform audio content and entertainment company through our acquisition of CBS Radio and by building leading complementary positions in podcasting, audio networks, live events, digital marketing solutions, and our direct-to-consumer streaming platform.”

“While our transformation has enhanced our competitive position, the perfect storm of sustained macroeconomic challenges over the past four years facing the traditional advertising market has led to a sharp reduction of several billion dollars in cumulative radio ad spending,” Field continued according to The Blaze.

“These market factors have severely impacted our financial condition and necessitated our balance sheet restructuring," the outlet continued. "With our scaled leadership position, our uniquely differentiated premium audio content, and a robust capital structure, we believe Audacy will emerge well positioned to continue its innovation and growth in the dynamic audio business.”

Several prominent media figures have expressed alarm at the prospect of Soros exerting such massive control over the landscape that has traditionally served as a redoubt for conservative content.

Ian Miles Cheong of Rebel News wrote via X, "George Soros intends to control the narrative. He is poised to take a massive stake in America’s second-largest radio company, Audacy, which owns more than 220 stations nationwide. For context, talk radio is very much an open space with both moderate liberal and conservative voices. This is a terrible development."

The move is equally alarming owing to Soros' propensity to influence local elections, particularly in the realm of law enforcement, as RedState's Bob Hoge observed. "Among many other things," Hoge said, "he has been a big backer of woke, soft-on-crime district attorneys like LA’s notorious George Gascón, Philly’s Larry Krasner, Manhattan’s farce of a prosecutor, Alvin Bragg, and so many others who have contributed to the sense of lawlessness currently plaguing the United States."

With a majority stake in over 200 American radio stations, Soros could be poised to heavily influence elections and politics on a scale as yet unseen in our nation's history.