House Energy and Commerce Committee Chair Cathy McMorris Rodgers (R-WA) led a letter of House Republicans demanding answers about the FCC’s decision to fast-track a deal to give billionaire George Soros control over 200 radio stations despite national security concerns.
McMorris Rodgers and the House Republicans wrote to Federal Communications Commission (FCC) Chair Jessica Rosenworcel about her and the other Democrat-nominated commissioners’ decision to “fast track” the purchase of more than 200 radio stations in the United States by a fund backed by the Democrat megadonor and leftist nonagenarian George Soros.
Audacy, the second-largest radio company, has filed for bankruptcy; in its filing, Audacy revealed that Soros-backed fund had acquired at least 40 percent of Audacy’s debt, and that after potentially emerging from bankruptcy, 25 percent of more of its stock would indirectly foreign owned.
Audacy emerged out of bankruptcy with the FCC approval of its radio stations licenses.
This normally triggers 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 the House Republicans.
“It is highly concerning that the FCC did not follow regular order for a transaction of this magnitude,” McMorris Rodgers and House Republicans wrote to the FCC. “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 called the deal “unprecedented,” noting that the agency has never allowed such a transfer of radio stations without following the protocols in federal law.
FCC Commissioner Brendan Carr said in a written statement:
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. Not once. And yet the Commission breaks this new ground today without seeking public comment on altering our established regulations, without actually changing the rules on the books, and without seeking the feedback of other federal agencies with relevant equities.
…
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, they must then complete that process before the FCC can approve the assignment of licenses, and that process must enable Executive Branch agencies with national security and specific policy expertise to weigh in.
FCC Commissioner Nathan Simington said in a written statement, “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.”
10.07.24 Republican Letter to FCC Re Foreign Ownership Broadcast Licenses
Sean Moran is a policy reporter for Breitbart News. Follow him on X @SeanMoran3
